-President Nguyen Xuan Phuc urged Vietnam and Russia to work harder to fully tap into their cooperation potential as he addressed a business forum in Moscow on Wednesday. 

President Phuc informed businesses of the two countries about the good results of his talks with President Vladimir Putin, which he said will open up many cooperation contents, especially economics and trade. Vietnam is the third largest economy in ASEAN and a member of 15 free trade agreements, the President said. He added that Russia has a large area, but agricultural exports only reach 30 billion USD per year, while Vietnam exports 45 billion USD of agricultural products, so the two countries can promote cooperation in this field.

“Vietnam and Russia have established a friendly and cooperative relationship for more than 70 years. The trust in political, diplomatic and economic relations between the two countries will open new chapters. Our goal is to increase bilateral trade and investment turnover by 15 to 20 times. To do so, the authorities of the two countries need to coordinate to solve problems so that the economy and trade are commensurate with our relationship. We also proposed that the Russian Government amend the Free Trade Agreement between Vietnam and the Eurasian Economic Union to further facilitate bilateral trade and investment,” said President Phuc.

Source: VOV5