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Official Gazette

Tuesday, June 15, 2021

Vietnam, Russia to boost trade and investment

Updated: 11:26’ - 07/04/2015

Prime Minister Nguyen Tan Dung and his Russian counterpart Dmitry Medvedev have agreed to promote the Vietnam - Russia Comprehensive Strategic Partnership in all fields, striving to bring two-way trade to USD 10 billion by 2020.

During Russian PM’s three-day official visit from April 5 to 7 in Hanoi, Dung and Medvedev agreed that ministries, sectors and enterprises in both countries should adopt proper measures to reach the goal, including speeding up the signing of a free trade agreement between Vietnam and the Eurasian Economic Union.


Prime Minister Nguyen Tan Dung receives Russian Prime Minister Dmitry Medvedev__Photo: Duc Tam/VNA

Regarding the two countries’ political relationship, Dung and Medvedev agreed to continue visit exchanges at all levels, particularly with high-ranking officials, and further coordinating with each other in the international arena.

The two PMs said they highly valued their mutual defense - security relationship, especially in military technology and soldier training, and affirmed their continued cooperation in this area.

Dung and Medvedev agreed to expand relations in science and technology, education and training, and culture. They would also advertise their tourism potential to deepen their relationship.

They also exchanged ideas about the settlement of disputes in the East Sea with peaceful measures based on international law, including the 1982 United Nations Convention on the Law of the Sea, the Declaration on the Conduct of Parties in the East Sea (DOC) and a possible Code of Conduct of Parties in the East Sea (COC).

After their talk on April 6, the two PMs witnessed the signing of eight documents in the fields of energy, investment, banking, healthcare and transport, including Joint Statement between the two co-chairmen of the Vietnam - Russia Committee on Priority Investment Projects; Vietnam - Russia Working Team Plan on Priority Investment Projects for 2015; Cooperation Plan for the 2015 - 2017 period on implementing a program to supervise the protection of consumer rights, facilitated by Vietnam’s Ministry of Health and Russia’s Federal Service for Supervision of Consumer Rights; Frame Agreement on Gazprom Neft’s purchase of 49 percent of shares in Binh Son Refining and Petrochemical; Memorandum of Understanding on seeking, exploiting and exploring oil and gas between the Vietnam National Oil and Gas Group (PetroVietnam) and Gazprom Neft; Cooperation Agreement between the Vietnam - Russia Friendship Association and the Russia - Vietnam Friendship Association during 2016 - 2020; Memorandum of Understanding between Vietnam’s North Power Service Joint Stock Company and InterRao - Export to cooperate on repairing and modernizing power plants manufactured by the former Soviet Union in Vietnam; and Cooperation Agreement between Vietnam Railways and Russian Railways.-


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