At the meeting, the State leader noted with joy consolidated friendship and traditional cooperation between the two countries. State President Truong Tan Sang affirmed that Russia’s economic and trade advantages are suitable for demands of Viet Nam and the Southeast Asian region.The State President highly valued the signing of the Viet Nam- Eurasian Economic Union (EAEU) Free Trade Agreement in last May as opening up realistic opportunities for both. The agreement will create a premise for the EAEU to expand its trade and investment ties with Southeast Asia while strengthening its cooperation with Asia-Pacific in general, he said.
President Truong Tan Sang and Russian First Deputy Prime Minister I. Shuvalov
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He said the sealing of the Vietnam- Eurasian Economic Union (EAEU) Free Trade Agreement last May opens up many pragmatic cooperation opportunities for both sides. The agreement will create a premise for the EAEU to expand its trade and investment ties with the Southeast Asian region while strengthening its cooperation with Asia-Pacific in general, he said.
Vietnam has approved the pact domestically, the leader said, noting his hope that Russia, in its capacity as the locomotive of the union, will help speed up the ratification by other EAEU members to soon put the deal on place.
The President informed his guest about Vietnam’s engagement in a number of bilateral and multilateral trade agreements in an effort to diversify its commercial market, lure more foreign investments and spur exports.
According to him, Russia’s economic and trade strength matches the demands of Vietnam and other Southeast Asian nations. Therefore, the host said, the Vietnam-EAEU Free Trade Agreement, once effective, will contribute to elevating economic and trade ties between the two countries on a par with their fruitful political relations.
In reply, First Deputy Prime Minister I. Shuvalov said economic and trade cooperation projects between the two countries have borne fruits, especially those in petroleum.
The First Deputy PM promised that Russia will conduct necessary procedures to make the Vietnam-EAEU Free Trade Agreement come into force at an early date. He expressed his hope that Vietnam’s participation in the Trans-Pacific Partnership (TPP) agreement will help stimulate economic and trade ties between the two countries.
First Deputy Prime Minister I. Shuvalov is in Vietnam for the Vietnam-Russia Inter-Governmental Committee meeting.
