Russian Prime Minister begins Vietnam visit

Russian Prime Minister Dmitry Medvedev arrived in Hanoi on April 5, beginning his three-day official visit to Vietnam.

Russian Prime Minister Dmitry Medvedev. (Source: motthegioi.vn)

The visit, at the invitation of Prime Minister Nguyen Tan Dung, aims to strengthen and consolidate the comprehensive strategic partnership between Vietnam and Russia.

The Russian PM is accompanied by Deputy PM and Head of the Russian Government Office, Prikhodko S.E., Deputy PM and Presidential Plenipotentiary Envoy to Russia’s Far East Federal District, Trutnhev Y.P, Minister of Industry and Trade, Manturov D.V., and Energy Minister Novak A.V., as well as other senior officials.

Political relations between the nations have been continually consolidated as seen in the frequent exchange of delegations.

The countries established an annual strategic dialogue on diplomacy-defence-security at the deputy foreign ministerial level in 2008 and set up a strategic dialogue at the deputy defence ministerial level in 2013.

Economic co-operation has strongly developed over recent years but still remains below potential. Vietnam and Russia recognised each other’s market economy in 2007.

Two-way trade reached US$2.7 billion (US$3.97 billion according to Russia’s data) in 2013 and US$2.55 billion (US$3.74 billion according to Russia’s data) in the following year.

On December 15, 2014, Vietnam and the Eurasian Economic Union that groups Russia, Belarus, and Kazakhstan signed a joint statement regarding the conclusion of negotiations on a bilateral free trade agreement. The agreement is expected to be officially signed in the first half of 2015.

Russia currently ranks 17th among 101 countries and territories investing in Vietnam with 106 projects worth nearly US$2 billion, focusing on the mining, processing, and manufacturing industries.

Meanwhile, the Southeast Asian country is currently running 19 projects valued at US$2.47 billion in Russia, mainly in oil and gas as well as trade.

(Source: nhandan.org.vn)