President Tran Dai Quang told Russian Minister of Economic Development Maksim Oreshkin at a meeting on May 21 that he will make a State visit to Russia in June at the invitation of President Vladimir Putin.

President Tran Dai Quang (R) and Russian Minister of Economic Development Maksin Oreshkin at a meeting on May 21 in Hanoi

The President expressed his pleasure at the development of a comprehensive strategic partnership between Vietnam and Russia, saying that 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.

Emphasising the great importance Vietnam attaches to the comprehensive strategic partnership with Russia, the President urged the two sides to work closely in implementing the Free Trade Agreement between Vietnam and the Eurasian Economic Union to help boost economic exchange with the union in general as well as between Vietnam and Russia in particular.

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

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

Vietnam is willing to help Russia join new projects on infrastructure and thermal power in the country, the leader said.

Minister Maksim Oreshkin, who was in Vietnam for the ministerial meeting of the 21-nation Asia-Pacific Economic Cooperation (APEC) forum, reiterated that Russia hopes to strengthen bilateral cooperation in economics, trade and investment.

 He pledged that Russia will work closely with Vietnam to effectively implement the Vietnam-Eurasia FTA in order to bring practical benefits to both countries.

The minister also said Russia will continue to support Vietnam in hosting the APEC Year 2017.

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

The two sides aim to increase two-way trade turnover to 10 billion USD by 2020.

VNA