Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Dec 25, 2019 / 08:54

Vietnam PM holds phone talk with Russian counterpart, focusing on oil cooperation

PM Nguyen Xuan Phuc said Vietnam will facilitate Russian-invested oil and gas projects.

Vietnam’s Prime Minister Nguyen Xuan Phuc on December 24 held a phone talk with his Russian counterpart Dmitry Medvedev to keep a close watch of cooperation activities, according to the Vietnamese Ministry of Foreign Affairs (MOFA).

 Vietnam’s Prime Minister Nguyen Xuan Phuc holds talks with Russian counterpart Dmitry Medvedev on Dec 24. Photo: Baodansinh

The talk, which is described as of “openness and trust”, focused on results of the implementation of agreements signed in PM Phuc’s Russia visit in May 2019, and measures to boost the efficiency of bilateral coordination in different fields.

The two leaders hailed joint work to lift barriers for agro-aquatic and seafood products, helping to fully tap advantages of Vietnam – Eurasian Economic Union Free Trade Agreement (Vietnam-EAEU FTA) amid global economic uncertainties.

PM Phuc emphasized that Vietnam always facilitates investment in oil and gas projects and supports companies of the two countries, including those specializing in oil and gas exploration and exploitation, gas-fueled power, liquefied natural gas, and motor fuel.

PM Medvedev, for his part, said Russia always backs its oil and gas firms to engage in projects in Vietnam’s territorial waters.

Vietnam’s Prime Minister Nguyen Xuan Phuc, Russia PM Dmitry Medvedev in Hanoi in November 2018. Photo: VNA 

They expressed satisfaction with the development of bilateral ties over the past years, mostly high-ranking visits and activities during the Vietnam – Russia Year, Russia – Vietnam Year 2019-2020 to celebrate the 70th anniversary of the diplomatic relations.

The leaders discussed measures to step up several important projects, including the center for scientific research and nuclear technology.

Oil and gas operations become the most important sector in the bilateral relations with the operations of a joint venture between Vietnam Oil and Gas Group (PetroVietnam) and Rusian Zarubezhneft JSC which is running several projects of Vietnam’s shore and Russia’s.

At a meeting with General Director of Zarubezhneft JSC Sergey Ivanovich Kudryashov in Hanoi mid-Dec, PM Phuc said he will ask the Ministry of Industry and Trade to consider some preferential mechanisms for Russian companies, mostly oil and gas ones, to facilitate their operations in Vietnam.

Russian Dmitry Medvedev visited Vietnam in November 2018.

Vietnam and Russia target the two-way trade of US$10 billion by 2020.