Viet Nam eyes expanding economic links with Russia

Wednesday, Sep 21, 2016 14:17

Vietnamese delegation (on the left) met with Russian officials from Saint-Petersburg. — Photo VGP

MOSCOW (Biz Hub) – Deputy Prime Minister Trinh Dinh Dung has suggested deeper links in economics, trade, culture and tourism between Vietnamese localities and their Russian counterparts, including Saint-Petersburg.

At a meeting with Saint-Petersburg Mayor Georgy Poltavchenko on September 20 as part of Dung's ongoing visit to Russia, the deputy PM said the Vietnamese government will create favourable conditions for Russian investors to operate in Viet Nam.

He highlighted close ties between the two countries' ministries, sectors and localities, saying this reflected the strong Viet Nam-Russia relations.

Bilateral cooperation should promote sustainable development, he stressed, noting that investment and trade links between the two counties will be enhanced when the free trade agreement between Viet Nam and the Eurasian Economic Union takes effect on October 5.

Both nations need to accelerate the implementation of existing commitments and promote new cooperation schemes, he said.

The deputy PM suggested that the Saint-Petersburg leader make it easy for Vietnamese goods and service suppliers to make inroads into Russia's second largest city through Made-in-Vietnam goods fairs in the country.

Mayor Poltavchenko said Saint-Petersburg welcomes Vietnam's investment projects. He committed to arranging meetings between representatives from Vietnamese firms and the city's retailers to foster partnerships.

Vietnamese businesses can introduce their commodities to Russian customers at the annual Christmas fair in Saint-Petersburg, he said, adding that Vietnamese firms can enter the Russian market by taking advantage of the fact that western countries are imposing sanctions against Russia.

During his stay, Dung will attend the 19th meeting of the Viet Nam-Russia Intergovernmental Committee in Saint-Petersburg on September 21.

In the first seven months of this year, two-way trade between Viet Nam and Russia hit US$1.6 billion, up 3 percent year-on-year. — VNS

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