Vietnam-Russia economic cooperation prospects under spotlight
Updated : Thursday, April 12, 2018 4:38 PM (GMT+0700)

Cooperationprospects between Vietnam and Russia in the fields of industry, energy,information and technology and agricultural exports were discussed at severalworkshops held in the framework of the 28th Vietnam InternationalTrade Fair (Vietnam Expo 2018) in Hanoi from April 9-11.

Cooperation prospects between Vietnam and Russia are discussed at several conferences
held in the frame work of the Vietnam Expo 2018. - Photo: VNA

The events were attended byrepresentatives from the Eurasian Economic Commission’s Department forIndustrial Policy, and many Russian corporations such as Russian RailwaysLogistics JSC, Alfa Robotics, Intelligent Security Systems and GOST group.

How to apply newtechnologies and artificial intelligence in Vietnam in an effective way as wellas opportunities for Vietnamese education and healthcare to access the world’sscientific achievements were tabled for discussion, along with measures topromote cooperation between Vietnamese and Russian enterprises.

According to Doan DuyKhuong, Vice President of the Vietnam Chamber of Commerce and Industry, Russiahas long-standing relations and close cooperation with Vietnam, its onlystrategic partner in the Asia-Pacific. Economy and trade have been always thehighlights in the bilateral cooperation after the two countries upgraded theirties to a strategic partnership in 2001.

Four pillars in thecooperation are trade, investment, oil and gas and electricity power. Thebilateral economic ties have been elevated to a new height thanks to the freetrade agreement between Vietnam and the Eurasian Economic Union (EAEU), whichtook effect in October, 2016.

Russia holds strengths ineconomy, finance and technology while Vietnam has advantages in humanresources, natural resources and geographical location along with its stablepolitics-economy-society.

Those strengths, oncecombined, will help consolidate the strategic cooperation between the twocountries, Khuong stated.

In the past years, Vietnamhas reaped crowing achievements in economic reforms, business climateimprovement, completion of legal regulations and simplification ofadministrative procedures, he said, adding that Vietnam will continue with thework to facilitate conditions for foreign investors, particularly those fromRussia.

Khuong said that theSoutheast Asian nation is prioritising investment in renewable energy, supportindustry, green industry, manufacturing mechanics, petrochemical,pharmaceuticals, information and technology, education, healthcare and tourism,among others.

The VCCI pledged support forthe Russian Embassy, trade representative offices and trade promotionorganisations to connect companies of both sides, Khuong stressed.


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