Prime Minister Phan Van Khai held a banquet in honour of Russian Prime Minister Mikhail Ephimoric Fradkov and his entourage in Hanoi in February 16.

Addressing the meeting, Prime Minister Phan Van Khai said he highly values Russia's assistance and cooperation in Vietnam's national construction and defence.

Mr Khai's view was shared by his Russian guest, who affirmed that Russia will continue to be a strategic partner of Vietnam and promote the traditional friendship and multi-faceted cooperation between the two countries for mutual benefit and sustainable development.

The two Government leaders spoke highly of and expressed their satisfaction at the two countries’ effective cooperation, especially in oil and gas exploration and exploitation, as well as in Russia’s provision of equipment for many hydro- and thermo-electric power plants in Vietnam.

PM Fradkov said Russia is interested in Vietnam’s Son La hydroelectric power project - the biggest in Southeast Asia - and that Russian companies are willing to participate in projects on exploiting and processing bauxite and iron ores, and expand cooperation in automobile assembly and electronic equipment manufacturing.

The two leaders agreed to maintain a regular high-level political dialogue mechanism; intensify bilateral cooperative ties in traditional areas such as oil and gas, electric energy, science and technology, and education and training, especially in economic-commercial cooperation; and expand cooperation to other fields, including transport, tourism, advanced technology and the use of nuclear energy for peaceful purposes.

The two sides were also unanimous in their desire to enhance their coordination in the international arena.

After their talks, PM Khai and PM Fradkov witnessed the signing of an agreement on cooperation in fighting drug-related crime and a protocol on the amendment to the agreement on training Vietnamese citizens at Russian universities and other establishments.

In the evening, PM Khai held a gala diner in honour of PM Fradkov, his wife and other distinguished Russian guests.