The agreements are inked by Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên (L) and Russian Energy Minister Nikolai Shulginov. VNA photo

 MOSCOW - Việt Nam and Russia have signed two important agreements in the field of geological exploration, and oil and gas exploitation.

The agreements were inked by Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên and Russian Energy Minister Nikolai Shulginov on the sidelines of the 6th "Russian Energy Week" International Forum in Moscow on October 12-13.

In a working session with Shulginov on October 12, the two sides reviewed the implementation of bilateral oil and gas, and energy projects and agreed on a number of major cooperation directions for the coming time.

Diên affirmed that the signing of the cooperation deals showed the strong support of leaders of the Vietnamese and Russian States and Governments for prioritised policies in the fields of energy, and oil and gas in the bilateral cooperative ties in the time to come.

Earlier the same day, Diên received Russian Deputy Minister of Economic Development Vladimir Ilichev. The two officials recognised the recovery of bilateral trade after a sharp fall in 2022. Russia's statistics showed that two-way trade reached US$ 2.7 billion in the first seven months of 2023, up 6.2 per cent year on year.

They agreed to remove difficulties in payment, transport and travel of people, especially entrepreneurs, between the two nations in a bid to foster economic, trade and investment ties.

The two sides also discussed bilateral cooperation in industry, agriculture as well as in exploration and exploitation of natural resources, and sought new cooperation projects in green transition, energy transition, climate change response, circular economy, science-technology and innovation.

During the trip, Diên attended the opening of Việt Nam Days in Russia, lasting from October 12-15, and the inauguration of a milk cow farm of TH Group in Moscow oblast, and received leaders of several Russian oil and gas groups such as Zarubezhneft, Gazprom and NOVATEK. VNA/VNS