Vietnam, Russia eye bilateral trade of 10 billion USD

President Tran Dai Quang and Russian President Vladimir Putin on Thursday expressed interest in strengthening commercial cooperation, vowing to raise two-way trade to 10 billion USD by 2020.

During talks in Moscow, the two leaders agreed to coordinate closely in implementing the Vietnam-Eurasia Economic Union Free Trade Agreement, that came into force last year.

They announced that investment will be made in a number of projects, including a joint Vietnamese-Russian oil and gas enterprise and the construction of a light industrial zone in Moscow. Joint ventures to assemble and produce cars in Vietnam will soon be set up and cooperation stepped up in energy and infrastructure. The two sides will also consider the possibility of cooperation in using nuclear power for peaceful purposes. The Presidents pledged close cooperation in national defense and security, and agreed to coordinate in multilateral forums.

Addressing a joint press conference, President Quang affirmed Vietnam's consistent policy of fostering its comprehensive strategic partnership with Russia, and developing Vietnam-Russia cooperation. Mr. Quang said the two sides agreed to work together to build a strong ASEAN and boost ASEAN-Russia relations: We agreed to cooperate closely in the APEC Year 2017 with Vietnam as the host country and prepare for an official visit to Vietnam by President Vladimir Putin for the APEC summit. The two sides also discussed efforts to maintain peace and stability and assure maritime and aviation security and freedom. We supported resolving disputes in the Asia-Pacific region, including East Sea disputes, via peaceful means. Vietnam hopes that Russia will continue contributing to maintaining peace, security, and stability in the Asia-Pacific region.

The two leaders pledge to support joint oil and gas enterprises in Vietnam and Russia and expand cooperation in other fields, including science and technology, education and training, culture, sports, and tourism.

Source: VOV5