President of the Russian Federation Dmitry Medvedev will pay an official visit to Viet Nam from October 30-31 at the invitation of State President Nguyen Minh Triet.
President of the Russian Federation Dmitry Medvedev will pay an official visit to Viet Nam from October 30-31 at the invitation of State President Nguyen Minh Triet.
The visit affirms the determination of the leaders and people from both countries to further enhance the bilateral traditional friendship and strategic partnership between Viet Nam and Russia.
It also expresses Russias policy of strengthening ties with Southeast Asia, including Viet Nam, which is considered an important priority in Russia’s foreign policy plan.
The two countries signed a joint statement on strategic partnership during Russian Federation’s President Vladimir Putin’s first visit to Viet Nam in March 2001.
The two countries share international and regional issues of mutual concern and they have strongly co-operated and supported each other at international forums at the United Nations, Asia-Pacific Economic Co-operation and ASEAN Regional Forum, especially while Viet Nam has been the ASEAN chair.
Two-way trade between the countries, which was about US$350-400 million in the 1990s, reached $500 million during the first four months of the year.
Viet Nam’s major exports include aquaculture, rubber, garment and footwear products, while imported products from Russia include coal, steel, fertiliser and oil and gas.
Russia currently has 67 investment projects in Viet Nam worth $755.1 million. These project’s focus primarily on oil and gas, light and heavy industry, transportation, telecommunication and aquaculture.
Viet Nam’s investment projects in Russia have strongly increased from 12 to 18, which are worth $1.7 billion in total capital. The projects involve oil and gas, banking, trade and services.
The oil and gas sector has brought huge profits to both nations.
(Source: VNS)
