Tran Dai Quang and Vladimir Putin shake hands at their talks in Moscow on June 29 (Photo: VNA) Moscow, (VNA) – President Tran Dai Quang and hisRussian counterpart Vladimir Putin on June 29 (local time) expressed particularinterest in strengthening commercial cooperation, agreeing on investing morethan 10 billion USD in both country.
At a joint press conference following talks between thetwo leaders in Moscow, the two leaders announced that the investment will bepoured into 20 priority projects, including a joint Vietnamese-Russian oil andgas enterprise, the construction of a light industrial zone in Moscow andprojects carried out by Vietnamese dairy group TH in some Russian localities.
Another 500 million USD would be spent on projects withhigh potentials in new areas of bilateral cooperation like agriculture ormedicinal herbs, the leaders said.
The two countries have also set an ambitious target of raisingbilateral trade to 10 billion USD by 2020.
Oil and gas will remain the top priority sector forcooperation between the two countries, Putin said.
Vietsovpetro, a Vietnam-Russia joint venture, accountsfor a third of the crude oil extracted in Vietnam.
Putin said Russia is committed to providing Vietnam withLPG and other fuels. He also said Russian enterprises are ready to join inmodernizing Vietnam’s power plants and help the country build new power plants.
The two leaders also agreed to coordinate closely witheach other in implementing the Vietnam-Eurasia Economic Union (VN-EAEU) FreeTrade Agreement in order to fully exploit its advantages for furthercooperation in trade and investment.
The FTA, involving Vietnam, Russia, Belarus, Kazakhstan,Armenia and Kyrgyzstan, was signed in May 2015 and took effect on October 5last year.
Vietnam and Russia are committed to creating favourableconditions for enterprises to step up trading, including signing agreements onfood safety management and promoting payment in Vietnamese Dong and the Russianrouble, the leaders said.
Jointventures to assemble and produce cars in Vietnam will soon be set up andcooperation stepped up in energy and infrastructure. The two sides will alsoconsider the possibility for continuing cooperation in the use of nuclear powerfor peaceful purposes.
The two nations have also agreedto tighten coordination in humanitarian field. In 2019, the two countries willcelebrate the 25th anniversary of a treaty on basic principles for thebilateral friendship, hence they will designate 2019 as the Year of Vietnam inRussia and vice versa.
On the East Sea (South China Sea) dispute, Quang and Putin agreed that anyborder or territorial dispute should be resolved by peaceful means withoutresorting to the threat or use of force, in accordance with international law,first of all the United Nations Convention on the Law of the Sea 1982 (UNCLOS).
They agreed the Declaration of Conduct in the East Sea (DOC) should beimplemented fully and effectively, and hoped that a Code of Conduct (COC) willsoon be completed.
During their talks, President Putin affirmed that Vietnam will always be apriority partner for Russia in the Asia-Pacific region. He said he believesthat Quang’s visit will provide fresh impetus to the development of thebilateral ties in the coming time.
President Quang reiterated that Vietnam has consistently prioritisedstrengthening of the comprehensive strategic partnership with Russia in orderto promote further bilateral cooperation in all fields.
Vietnam appreciates Russia’s role and hopesRussia will continue making active contributions to the maintenance of peace,security and stability in the Asian-Pacific region, he said
The same day, the two leaders witnessed the signing ceremonies for severalcooperation projects including the building a nuclear technology and sciencecentre in Vietnam between the Vietnamese Ministry of Science and Technology andthe Russian Rosatom Group, a cooperation agreement on anti-money launderingbetween the State Bank of Vietnam and the Financial Market Relations RegulationCentre, and another between the Vietnam News Agency and the Sputnik.
A memorandum on technical cooperation between the two State treasuries was alsosigned in the presence of the presidents, along with a 2017-2022 cooperationprogramme in aerospace technology between the Vietnam Academy of Science andTechnology and the Roscosmos State Corporation for Space Activities, and anagreement between the Vietnam Railways Corporation and the Russian RailwaysOpen Joint Stock Company.-VNA
At a joint press conference following talks between thetwo leaders in Moscow, the two leaders announced that the investment will bepoured into 20 priority projects, including a joint Vietnamese-Russian oil andgas enterprise, the construction of a light industrial zone in Moscow andprojects carried out by Vietnamese dairy group TH in some Russian localities.
Another 500 million USD would be spent on projects withhigh potentials in new areas of bilateral cooperation like agriculture ormedicinal herbs, the leaders said.
The two countries have also set an ambitious target of raisingbilateral trade to 10 billion USD by 2020.
Oil and gas will remain the top priority sector forcooperation between the two countries, Putin said.
Vietsovpetro, a Vietnam-Russia joint venture, accountsfor a third of the crude oil extracted in Vietnam.
Putin said Russia is committed to providing Vietnam withLPG and other fuels. He also said Russian enterprises are ready to join inmodernizing Vietnam’s power plants and help the country build new power plants.
The two leaders also agreed to coordinate closely witheach other in implementing the Vietnam-Eurasia Economic Union (VN-EAEU) FreeTrade Agreement in order to fully exploit its advantages for furthercooperation in trade and investment.
The FTA, involving Vietnam, Russia, Belarus, Kazakhstan,Armenia and Kyrgyzstan, was signed in May 2015 and took effect on October 5last year.
Vietnam and Russia are committed to creating favourableconditions for enterprises to step up trading, including signing agreements onfood safety management and promoting payment in Vietnamese Dong and the Russianrouble, the leaders said.
Jointventures to assemble and produce cars in Vietnam will soon be set up andcooperation stepped up in energy and infrastructure. The two sides will alsoconsider the possibility for continuing cooperation in the use of nuclear powerfor peaceful purposes.
The two nations have also agreedto tighten coordination in humanitarian field. In 2019, the two countries willcelebrate the 25th anniversary of a treaty on basic principles for thebilateral friendship, hence they will designate 2019 as the Year of Vietnam inRussia and vice versa.
On the East Sea (South China Sea) dispute, Quang and Putin agreed that anyborder or territorial dispute should be resolved by peaceful means withoutresorting to the threat or use of force, in accordance with international law,first of all the United Nations Convention on the Law of the Sea 1982 (UNCLOS).
They agreed the Declaration of Conduct in the East Sea (DOC) should beimplemented fully and effectively, and hoped that a Code of Conduct (COC) willsoon be completed.
During their talks, President Putin affirmed that Vietnam will always be apriority partner for Russia in the Asia-Pacific region. He said he believesthat Quang’s visit will provide fresh impetus to the development of thebilateral ties in the coming time.
President Quang reiterated that Vietnam has consistently prioritisedstrengthening of the comprehensive strategic partnership with Russia in orderto promote further bilateral cooperation in all fields.
Vietnam appreciates Russia’s role and hopesRussia will continue making active contributions to the maintenance of peace,security and stability in the Asian-Pacific region, he said
The same day, the two leaders witnessed the signing ceremonies for severalcooperation projects including the building a nuclear technology and sciencecentre in Vietnam between the Vietnamese Ministry of Science and Technology andthe Russian Rosatom Group, a cooperation agreement on anti-money launderingbetween the State Bank of Vietnam and the Financial Market Relations RegulationCentre, and another between the Vietnam News Agency and the Sputnik.
A memorandum on technical cooperation between the two State treasuries was alsosigned in the presence of the presidents, along with a 2017-2022 cooperationprogramme in aerospace technology between the Vietnam Academy of Science andTechnology and the Roscosmos State Corporation for Space Activities, and anagreement between the Vietnam Railways Corporation and the Russian RailwaysOpen Joint Stock Company.-VNA
VNA
