Hà Nội — President Trần Đại Quang yesterday expressed his pleasure at the development of a comprehensive strategic partnership between Việt Nam and the Russian Federation.

The President made the remarks at reception in Hà Nội for the Russian Minister of Economic Development Maksim Oreshkin, who is in Viet Nam for the ministerial meeting of the 21-nation Asia-Pacific Economic Cooperation (APEC) forum.

Regular visits by leaders of the two countries have helped strengthen the political relationship and create the motivation for an active and effective partnership in economics, trade and investment, according to Quang.

Emphasising the great importance Việt Nam attaches to the comprehensive strategic partnership with the Russian Federation, Quang praised the positive results of co-operation between the two countries.

Quang urged the two sides to work closely in implementing the Free Trade Agreement between Việt Nam and Eurasian Economic Union to help boost economic exchange with the union in general as well as between Việt Nam and Russia in particular.

The President also asked Russia to support Vietnamese investment and joint projects in Russia, especially in the fields of oil and gas, agriculture and light industry, by promulgating policies that provide favourable conditions for Vietnamese industrial zones in Moscow.

He affirmed that Việt Nam would create favourable conditions for Russian enterprises investing in the country, in areas such as energy, oil and gas and automobile manufacturing.

Việt Nam is also willing to help Russia join new projects on infrastructure and thermal power in the country, according to Quang.

Emphasising the economic, business and investment potential between the two nations, the President suggested the two sides study and build economic projects of long-term strategic importance and continue to promote trade, as well as create the best conditions for products to enter each others’ markets.  

President Quang also signaled his appreciation for Russian support and coordination with regards to APEC Year 2017 and expressed his pleasure at being able to welcome Russian President Vladimir Putin to Viet Nam for the event.

Last year, two-way trade turnover reached US$2.7 billion, up 25 per cent over the previous year. In the first four months of 2017, the turnover continued to increase by 30 per cent, reaching $1.1 billion.

 The two sides aim to increase two-way trade turnover to $10 billion by 2020. — VNS