Vietnam, Russia hold talks to boost trade, economic ties

Vietnam and Russia on Wednesday held talks of the Vietnam-Russia Inter-Governmental Committee on economic, trade, science and technology cooperation to boost ties in the areas.

During talks held in Vietnam's capital Hanoi, the two sides, which was led by Vietnamese Deputy Prime Minister Hoang Trung Hai and Russian First Deputy Prime Minister Igor Shuvalov, proposed measures to promote bilateral trade and economic cooperation in the future.

As of October 2015, Russia poured around two billion U.S. dollars in 113 projects in Vietnam, ranking 17th among 101 countries and territories investing in Vietnam. Meanwhile, Vietnamese investors invested some 2.5 billion U.S. dollars in 20 projects in Russia.

In the first 10 months of 2015, bilateral trade turnover between the two countries reached 1.8 billion U.S. dollars, according to the website of Vietnamese government.

At the talks, the two sides agreed to enhance the implementation of the free trade agreement between Vietnam and the Eurasian Economic Union signed in mid-2015 to boost the economic and trade cooperation and create favorable conditions in terms of tax and customs.

The two sides also discussed issues related to the implementation of Ninh Thuan 1 Nuclear Power Plant project in southern Vietnam, which will be built in collaboration between Vietnam and a Russian company, and other projects in oil, gas and electronics.

They exchanged measures for cooperation in areas of aviation, automobile industry, mine and ores, finance and banking, telecommunications, science and technology and education and training. Enditem