The Vietnamese and Russian Deputy Prime Ministers sign the minutes of the session. (Photo: VGP)
Accordingly, the two sides re-checked the realization of minutes reached in the 18th meeting, and proposed measures to promote the bilateral economic and trade cooperation in the context of the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union going into effect on October 5th.
The two sides assessed that the agreement was a special opportunity. The implementation of the FTA will strongly promote economic relations between the two countries and expand the space for production, trade and investment between Vietnam and the union members.
Over the past year, cooperation projects have been carried out well, especially in the energy and industrial areas, with trade turnover between Vietnam and Russia in the first 7 months of this year of USD1.56 billion, a year-on-year increase of over 30%.
In terms of investment, as of late June, Russian investors placed 113 direct investment projects in Vietnam with a total capital of USD1.1 billion, while Vietnam invested in 20 projects worth USD2.93 billion in Russia. Projects in oil cooperation have been implemented effectively in Vietnam and Russia.
Chairing the session, Vietnamese Deputy Prime Minister Trinh Dinh Dung and Russian First Deputy Prime Minister Igo Shuvalov reached specific measures to carry out cooperation in energy, mining, finance and banking, information and communications, science and technology, education and training.
In addition, the two sides agreed to promote the import of agricultural products from each other, with prompt negotiations on food safety for these products to be held.
Concluding the session, the two Deputy Prime Ministers signed the minutes of the 19th session of the Vietnam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation./.