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Party leader, Russian PM agree on major boost to bilateral trade

Update: November, 26/2014 - 08:55
Party Secretary Nguyen Phu Trong (R) meets with Russian Prime Minister Dmitry Medvedev in Moscow.. — VNA/VNS Photo Tri Dung
RUSSIA (VNS) — In Sochi city yesterday, Party General Secretary Trong and Russian Prime Minister Dmitry Medvedev agreed to work harder to raise bilateral trade to US$7 billion by 2015 and $10 billion by 2020.

Medvedev, who is also leader of the ruling United Russia Party, pledged to speed up negotiations for a free-trade agreement between Viet Nam and the Customs Union of Russia, Belarus and Kazakhstan.

It is hoped to sign the agreement in 2015, paving the way for the flow of goods, services and investments between the two countries.

The two leaders said they were pleased at the growing co-operation in energy, especially oil and gas and nuclear power, which they described as an area of strategic significance to both nations.

They agreed to create the most favourable conditions for Vietnamese and Russian state oil and gas firms to operate in their respective territories by reducing taxes and expanding operational areas.

The two sides will increase co-operation in oil and gas exploration and exploitation on Viet Nam's continental shelf in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

They will step up negotiations for a deal of expanding and modernising the Dung Quat oil refinery and join hands with Viet Nam in implementing the Ninh Thuan nuclear power plant to ensure its safety, quality and efficiency.

Medvedev said Russia would make it easier for Vietnamese agro-forestry and fishery products to enter its markets.

He said Russia would also consider a flexible conversion between the currencies of Russia and Viet Nam to facilitate payments and transactions.

Trong said Viet Nam wanted to strengthen its strategic partnership with Russia, considering it an important and reliable partner.

He added that the Communist Party of Viet Nam was also keen on bolstering co-operation with the United Russia party.

The Party chief thanked the Russian Government and PM Medvedev for supporting the Vietnamese community in the country, suggesting that Russia make it easier for them to get their legal residence in Russia.

He proposed that Russia back the operation of the Ha Noi-Moscow Centre for Culture, Trade and Hotel (INCENTRA) in Russia as well as an air route linking Viet Nam and Vladivostok.

Host and guest agreed that both countries shared similar viewpoints on many international and regional matters and showed close co-ordination and mutual support at forums in the region and the world.

Party Secretary Nguyen Phu Trong (fourth left) and Russian Prime Minister Dmitry Medvedev (third right) held talk in Moscow. They agreed to speed up FTA talks between Viet Nam and the Customs Union yesterday. The two sides will increase co-operation in oil and gas exploration and exploitation on Viet Nam's continental shelf in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS). —VNA/VNS Tri Dung

Trong said Viet Nam was willing to help Russia increase its role related to the maintenance of peace, stability, security and co-operation in Southeast Asia and the Asia-Pacific region.

Meanwhile, Medvedev said Russia would back Viet Nam's bid for a seat in the United Nations Economic and Social Council (ECOSOC) for the 2016-18 tenure and as a non-permanent member of the United Nations Security Council (UNSC) for the 2020-21 tenure.

Regarding the East Sea issue, both sides agreed that all disputes at sea should be settled through peaceful measures in respect for international law, including the UNCLOS 1982, and the full implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) towards the early conclusion of a Code of Conduct in the East Sea (COC).

Earlier, the Vietnamese Party leader visited Zarubezhneft Group, one of the leading oil and gas firms in Russia.

Praising the group's achievements and contributions to Russia's development, Trong stressed the importance of energy and oil and gas co-operation in Russia's friendship and strategic partnership with Viet Nam.

He also spoke highly of the collaboration between the group and PetroVietnam, saying that their joint venture, Vietsovpetro, was an effective symbol.

Affirming his support for the two countries' expansion of cooperation in oil and gas exploration and exploitation, Trong said he hoped businessbetween PetroVietnam and Zarubezhneft would further develop in the future, actively contributing to consolidating the Viet Nam-Russia comprehensive strategic partnership. — VNS

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