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"The two countries have agreed to intensify talks on reaching an agreement to set up a free trade zone between Vietnam and the Moscow-led Customs Union of Russia, Belarus and Kazakhstan.
Trade between Vietnam and Russia is projected to nearly double to $7 billion in 2015, from $3.66 billion last year. That figure is expected to reach $10 billion by 2020." LINK
President Sang talks with Putin; 17 deals signed
Posted on November 13, 2013 by vietnamshipbuildingnews
t their talks in Hanoi on Tuesday, President Truong Tan Sang and his visiting Russian counterpart Vladimir Putin focused on measures to boost bilateral ties. Seventeen cooperation deals were inked between the two sides.>> Russia-Vietnam: Together to New Cooperation Goals >> Putin’s visit to take Vietnam-Russia ties to new height
The two Presidents affirmed that the political ties have developed well with high trust, and agreed to set up more mechanisms of reciprocal high-level exchanges and contacts.
They also highly appreciated the lifting of the bilateral ties to comprehensive strategic partnership, which has opened up new opportunities to beef up wide-ranging mutually beneficial cooperation.
Acknowledging that two-way trade has strongly developed in the past year, the two leaders expected that it will reach US$ 4 billion in 2013.
However, they admitted that the economic, commercial and investment cooperation has yet to match the size of their economies and their respective potentials.
Therefore, the two Presidents agreed that both countries should take effective measures to step up the trade and investment cooperation.
The two countries should also coordinate in implementing prioritized investment projects within the Framework of Vietnam Nam-Russia High-level Working Team, and boosting the early signing of a Free Trade Agreement between Vietnam and the Belarus-Kazakhstan-Russia Customs Union.
Both President Sang and his Russian counterpart agreed to enhance cooperation for the building of Ninh Thuan 1 nuclear power plant by using state-of-art technology and ensuring safety, efficiency and quality for the project.
The two sides also pledged to strengthen cooperation in other areas such as mineral exploitation, transport including civil aviation, shipbuilding, manufacturing, communication and telecommunications, combating crime and anti-terrorism.
They also discussed regional and international issues of mutual concern, pledging to strengthen coordination at international forums, including APEC, ARF, EAS, ASEM, and ADMM+.
After the talks, the two leaders witnessed the signing ceremony of 17 cooperative documents on economics, trade, banking, national defense, petrol, healthcare and education. These documents are expected to perfect the legal basis for bilateral cooperation and develop the comprehensive strategic partnership in the coming time.
On the same day, Russian President Putin also had a meeting with General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, during which Trong said Vietnam supports Russia’s positive policy towards countries in the Asia-Pacific region, including Vietnam.
The Party chief also highly valued the efforts of Russia in strengthening peace, security, cooperation and development in the region, including the East Sea.
For his part, President Putin affirmed that his country always attaches much importance to developing the comprehensive strategic partnership with Vietnam, and considers Vietnam as a top prioritized partner in the Asia-Pacific region.
The Russian President left Hanoi on late November 12, concluding his visit to Vietnam.
Russia, Vietnam Sign Raft of Deals, Boosting Ties
Russian President Vladimir Putin signed a number of key cooperation agreements with Vietnam during a state visit to Hanoi on Tuesday that is expected to significantly boost relations between the two nations.
HANOI, November 12 (RIA Novosti) – Russian President Vladimir Putin signed a number of key cooperation agreements with Vietnam during a state visit to Hanoi on Tuesday that is expected to significantly boost relations between the two nations.
After talks with the country’s leadership, Putin said Russia and Vietnam, a priority partner in the Asia-Pacific region, have “taken another serious step in strengthening joint cooperation.”
“We had very substantial, useful and successful talks with the Vietnamese president and prime minister,” Putin said at the meeting with Communist Party of Vietnam General Secretary Nguyen Phu Trong.
Officials from both nations signed a number of agreements on cooperation in different areas, including on military issues, science and technology, as well as on extradition. Vietnam has become a major buyer of Russian weapons since 2010.
Gazprom Neft, the oil arm of Russia's state-controlled energy giant Gazprom, and Petrovietnam agreed on the modernization of the Dung Quat oil refinery in Quang Ngai province, Gazprom Neft chief executive Alexander Dyukov told reporters.
The two countries have agreed to intensify talks on reaching an agreement to set up a free trade zone between Vietnam and the Moscow-led Customs Union of Russia, Belarus and Kazakhstan.
Trade between Vietnam and Russia is projected to nearly double to $7 billion in 2015, from $3.66 billion last year. That figure is expected to reach $10 billion by 2020.
The main exports from Russia to Vietnam include machinery, fertilizers, metals products. Russia imports clothing, agricultural products and electronic appliances.
Putin is set to continue his Asian tour with a visit to South Korea on Wednesday.
Putin went ahead with the trip despite concerns over safety as the region continues to struggle coping with the devastating fallout of Typhoon Haiyan, which has claimed more than 10,000 lives in the Phillipines, which lies across the South China Sea from Vietnam.