Vietnam, Russia Aim to Triple Trade 11/19 06:15
HANOI, Vietnam (AP) -- The prime ministers of Vietnam and Russia agreed
Monday to nearly triple their countries' two-way trade to $10 billion by 2020
from $3.55 billion last year.
Speaking to reporters after talks in Hanoi, Russian Prime Minister Dmitry
Medvedev said the countries will expand their cooperation in the oil and gas
industries and transportation.
"We emphasized that energy companies from Russia and Vietnam have had
successful cooperation and we wish that cooperation will continue to be
consolidated," Medvedev said through a translator.
Russia currently invests in over a hundred projects in Vietnam worth $990
million, many in oil and gas exploration and exploitation, according to
Vietnam's Foreign Ministry.
Vietnamese Prime Minister Nguyen Xuan Phuc said cooperation in defense and
security and other areas has seen positive results.
Russia is Vietnam's main weapons supplier.
Phuc said the two countries will be able to cooperate more effectively
through the Russian-led Eurasian Economic Union trade deal which took effect in
2016, and will boost bilateral trade to $10 billion by 2020.
Medvedev was scheduled to meet with Vietnamese President Nguyen Phu Trong
and National Assembly Chairwoman Nguyen Thi Kim Ngan later Monday before
concluding his visit.