President Tran Dai Quang’s official visit to Russia is a crucial event and can facilitate the implementation of agreements reached by the two nations, a Russian expert has said.

President Tran Dai Quang and his spouse arrives in Russia

In an interview with a Moscow-based Vietnam News Agency correspondent, Assoc. Prof Anna Kireeva from the Moscow State Institute of International Relations under the Russian Ministry of Foreign Affairs, stressed the need for Russia to enhance economic ties with Vietnam in order to fully tap the potential of the comprehensive strategic partnership between the two countries.

She suggested that Russia should diversify the structure of its trade with Vietnam, particularly in sectors of big potential such as power and agriculture. She added that Russia can import vegetable and aquatic products from Vietnam while exporting meat and dairy products. 

It is time for the two countries to utilize advantages offered by the Vietnam-EAEU free trade agreement, she said. 

Other sectors with great potential for bilateral partnership are light industry, electronics, machinery manufacturing, information and communication technology, and high technology.

The expert also underlined the importance of investment cooperation between the two nations, hoping that they will propose projects during the Vietnamese leader’s visit.  

The two sides set up the Russia-Vietnam Investment Fund worth 500 million USD, which provides capital for bilateral trade projects between the Russian Direct Investment Fund and the Vietnamese State Capital Investment Corporation. 

Kireeva said Vietnam plays an important role in Russia’s policy of a “pivot” to Asia. 

According to the expert, Southeast Asia has a strategic position and one of the key area in Russia’s policy. She noted that Russia is active in reinforcing relations with many countries in East Asia, including Vietnam – the largest partner of Russia in Southeast Asia.  The Vietnam-EAEU FTA is the first step for Russia to participate in the integration process of East Asia.

Russia pays attention to enhancing security cooperation with Vietnam, and considers it a factor for stability in the region. Through the policy, Russia wants to increase its presence in East Asia, seeking development motivation and contributing to regional development and security.

The two countries should also foster cooperation in international issues of common concern, while Russia needs to diversify trade structure, especially in energy and agriculture – high potential fields of both nations, she noted.

Through President Quang’s visit, Russia and Vietnam can concretise economic and trade agreements and discuss measures to create new growth to expand their trade ties, she said.

VNA