Regarding cooperation in energy, businesses of the two countries are actively cooperating in expanding oil and gas exploration and exploitation on the continental shelf of Vietnam and in Russia.
|Deputy Prime Minister Trinh Dinh Dung (L) and First Deputy Prime Minister of Russia Igor Shuvalov shake hands|
The two sides agreed to help enterprises improve their joint ventures’ operational efficiency, and explore investment collaboration in new projects.
They hailed the positive development in bilateral trade, which increased by 23% in the first nine months of 2016.
Both government officials propose Vietnam and Russia optimise opportunities from the free trade agreement between Vietnam and the Eurasian Economic Union (EAEU), which came into force in October 2016, as well as facilitate the entry of goods to the respective countries in order to realise the two-way trade target of US$10 billion by 2020.
They were unanimous to implement effectively high-level agreements and outcomes reached at the 19th session of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation.
The pair also put forth measures to carry out priority projects in the fields of industry, automobile production, science-technology, and education-training.
After wrapping up the November 13-14 working visit to Russia, Deputy PM Trinh Dinh Dung is scheduled to tour Japan from November 15-16.