On December 16, at the talks in Hanoi, The two sides reviewed the implementation of the Minutes of the 17th session of the Inter-Governmental Committee in September 2014 and proposed measures to promote bilateral economic and trade cooperation in the coming years.
Deputy Prime Minister Hoang Trung Hai and Deputy Prime Minister Igor Shuvalov Russia signed minutes of the meeting, acknowledged the achievements and commitment to implement agreed steps to promote cooperation in the future
|
Both sides assessed on the basis of political relations that has been developing well and have a high confidence level, trade and economic cooperation and investment between the two countries that has been developing dynamically. The key cooperation projects implemented is basically good, to achieve positive results.
As of October 2015, Russia poured US$2 billion in 113 projects in Viet Nam, ranking 17th among 101 nations and territories investing in Viet Nam. Vietnamese investors invested US$2.5 billion in 20 projects in Russia. Over the recent 10 months of 2015, the two-way trade turnover obtained US$1.8 billion.
The two sides consented to enhance the implementation of the Viet Nam- Eurasian Economic Union (EAEU) Free Trade Agreement to boost the economic and trade cooperation and create favorable conditions in terms of tax and customs.
The host and the guest discussed issues related to the implementation of Ninh Thuận 1 Nuclear Power Plant, and projects on oil and gas and electronics. They exchanged measures to launch cooperative activities in such areas as aviation, automobile industry, mine and ores, finance and banking, telecommunications, science and technology and education and training
Vietnam’s commercial trade with Russia has tapered off dramatically in 2015 having registered just US$1.8 billion during the first 10 months of 2015, far off the target set for the year. It looks virtually certain the figures for calendar year 2015 will be far off the record pace of US$2.5 billion reached last year as well,” said Hai.
Others at the meeting explained Russia’s exports and imports have plummeted across the board with economies around the globe on the back of the drop in the Russian rouble and oil prices. Russia First Deputy Prime Minister Igor I Shuvalov in turn expressed confidence the Vietnam Eurasian Economic Union (EEU) Free Trade Agreement would help turn the shrinking economic figures around.
At the meeting, the two sides discussed measures to foster cooperation in fields such as mining, banking, communications and technology. They also agreed to engage in an array of new projects.
Also at the talks, Deputy Prime Minister Hoang Trung Hai and Deputy Prime Minister Igor Shuvalov signed minutes of the meeting, acknowledged the achievements and commitment to implement agreed steps to promote cooperation in the future.
