Vietnam, Russia strive for 7 billion USD in trade by 2015

Party General Secretary Nguyen Phu Trong on November 25 had a meeting with Russian Prime Minister Dmitry Medvedev in Sochi city, during which they agreed to work harder to raise bilateral trade to 7 billion USD by 2015 and 10 billion USD by 2020.

Party General Secretary Nguyen Phu Trong on November 25 had a meetingwith Russian Prime Minister Dmitry Medvedev in Sochi city, during whichthey agreed to work harder to raise bilateral trade to 7 billion USD by2015 and 10 billion USD by 2020.

PM Medvedev, whois also leader of the ruling United Russia Party, pledged to speed upnegotiations for a free trade agreement between Vietnam and the CustomsUnion of Russia, Belarus and Kazakhstan so that it can be signed in2015, paving the way for the flows of goods, services and investmentsbetween the two countries.

The two leaders expresseddelight at the growing bilateral cooperation in energy, especially oiland gas and nuclear power, which they described as an area of strategicsignificance to both nations.

They committed tocreate the most favourble conditions for Vietnamese and Russian stateoil and gas firms to operate in their respective territories by reducingtaxes and expanding operational areas.

The twosides will increase cooperation in oil and gas exploration andexploitation in Vietnam’s continental shelf in accordance withinternational law, including the 1982 United Nation Convention on theLaw of the Sea (UNCLOS).

They will step upnegotiations for a deal of expanding and modernising the Dung Quat oilrefinery and join hands with Vietnam in implementing the Ninh Thuannuclear power plant to ensure utmost safety, quality and efficiency forthe project.

PM Medvedev declared that Russia willmake it easier for Vietnamese agro-forestry and fishery products toenter its market while considering a flexible conversion between thecurrencies of Russia and Vietnam in order to facilitate paymentsand transactions between their businesses.

GeneralSecretary Nguyen Phu Trong affirmed Vietnam’s consistent policy oftreasuring and wishing to strengthening and consolidating itscomprehensive strategic partnership with Russia, considering theEuropean country as one of its top important and reliable partners.

The Communist Party of Vietnam is keen on bolstering the friendshipand sound cooperation with the United Russia party, he stated.

The Party chief thanked the Russian Government and PM Medvedev forsupporting the Vietnamese community in the country, suggesting that inthe future, Russia create more favourable conditions for the communityto get their legal residence in Russia .

Heproposed that Russia back the operation of the Hanoi-Moscow Centre forCulture, Trade and Hotel (INCENTRA) in Russia as well as an air routelinking Vietnam and Vladivostok.

Both hostand guest noted with pleasure that both countries share similarviewpoints in many international and regional matters of mutual concernand show their close coordination and mutual support at forums in theregion and the world.

General Secretary Nguyen PhuTrong said Vietnam is willing to support Russia in increasing itsrole in issues related to the maintenance of peace, stability, securityand cooperation in Southeast Asia and the Asia-Pacific region as well.

Meanwhile, PM Medvedev vowed that Russia willback Vietnam’s bid for a seat in the United Nations Economic andSocial Council (ECOSOC) for the 2016-18 tenure and a non-permanentmember of the United Nations Security Council (UNSC) for the 2020-21tenure.

Regarding the East Sea issue, both sidesagreed that all disputes at sea should be settled through peacefulmeasures in respect for international law, including the UNCLOS 1982,and the full implementation of the Declaration on the Conduct of Partiesin the East Sea (DOC) towards the early conclusion of a Code of Conductin the East Sea (COC).-VNA

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Illustrative image (Photo: VNA)

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