Russian President Dmitry Medvedev was quoted as saying that the bilateral relationship continued to grow and flourish last year.

During his talks with prime Minister Nguyen Tan Dung in Moscow last December, the Russian leader confirmed that in 2009 Russia’s partnership with Vietnam was not affected by the global economic crisis.

Two-way trade between both countries rose by 4.1 percent to US$1.1 billion in just nine months, said the Russian leader.

He laid special emphasis on cooperation in energy, citing the Vietsovpetro joint venture company, which so far has been operating very well.

Russia’s giant group Gazprom has also entered Vietnam after it received a license in February to exploit oil and gas in Vietnam’s continental shelf along with the Vietnam Oil and Gas Group – PetroVietnam.

In addition, a new Vietnamese-Russian joint venture called Gazpromviet was set up to mine in the Orenburg region and the Republic of Komi in the Russian Federation.

The Russia leader also referred to the construction of Vietnam’s first nuclear power plant as a new direction in bilateral energy cooperation. 

In the electricity industry, where both countries have worked together for years, they are moving to establish more joint ventures.

Bilateral cooperation in 2009 was also vibrant in other areas, said the VoR.

In early 2009, the Vietnam-Russia eye treatment centre opened in Hanoi, capable of providing treatments for 10,000-20,000 patients and eye check-ups for between 40,000-50,000 people.

GTel Mobile, with 40 percent of its legal capital held by the Russian VympelCom group, expanded its “Beeline” mobile services in Vietnam. The joint venture plans to expand its mobile phone coverage over the major cities of Hanoi, Ho Chi Minh City, Da Nang, Hai Phong, Can Tho, and 14 other provinces in 2010. It is also mulling over the idea of using of satellite technologies to provide services for mountainous areas.

Late last year, the Vietnam-Russia Bank opened a branch in Moscow to assist Vietnamese businesses in Russia and provide capital for importers and exporters from both countries.

Regarding the potential for further bilateral cooperation, experts estimated that trade between the two countries would reach US$3 billion in 2010 and US$10 billion in 2011 and 2012 and the Vietnam-Russia Bank should play a key role as a financial coordinator. 

Both countries also enhanced military links, an important part in the Vietnam-Russia cooperation in 2009, according to the VoR.

The radio highlighted the visit to Russia by Prime Minister Nguyen Tan Dung, together with his talks with PM Vladimir Putin and the signing of a series of documents regarding economic cooperation.

The VoR voiced its belief that more progress will be made in 2010 to further broaden and strengthen the already close ties between the two countries.