Vietnam, Russia trade to hit $7b in 2015: official

08-Oct-2014 Intellasia | Xinhua | 6:00 AM Print This Post

Vietnam and Russia are striving to bring the bilateral trade revenue to 7 billion US dollars in 2015 and 10 billion US dollars in 2020, said Doan Duy Khuong, vice chair of Vietnam Chamber of Commerce and Industry (VCCI), on Monday.

Khuong made the remark at a Vietnam-Russia business forum held in Hanoi, reported state-run radio VOV.

According to Khuong, the two sides are beefing up efforts to conclude negotiation of a free trade agreement between Vietnam and the Customs Union of Belarus, Kazakhstan, and Russia. The agreement once signed will create breakthrough to realise the targets of bilateral trade revenues in 2015 and 2020, said Khuong.

Speaking at the forum, Russian Ambassador to Vietnam Andrey G. Kovtun said “In the past few years, Vietnam has been among countries in Asia-Pacific that Russia sets priorities in political and economic fields.”

The forum drew participation of 25 Russian enterprises who are seeking business opportunities with Vietnamese companies in the areas of information and technology, communication and telecommunication equipment, biotechnology, nano technology, healthcare and pharmaceutics, environment, energy, automation, automobile industry, metallurgical, oil and gas among others, reported VOV.

In 2013, the bilateral trade revenue between Vietnam and Russia hit nearly 4 billion US dollars while the figure in the first seven months of 2014 stood at around 2 billion US dollars.


Category: Economy, Vietnam

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