Vietnam, Russia boost commercial cooperation

Delegate at the conference. (Photo: PANO)

The event aimed to provide the most recent information about the two markets as well as offer opportunities for the business communities of the two sides to exchange and seek new cooperation and investment; boosting multifaceted commercial cooperative relations between Vietnam and the Russian Federation.

In his speech, Vice Chairman of VCCI Hoang Quang Phong said Vietnam and the Russian Federation have traditional, long-standing and close relations in many fields. Currently, Vietnam is a strategic partner of the country in the Asia-Pacific. In 2020, Vietnam and Russia will celebrate the 70^th anniversary of diplomatic relations with great achievements in all fields: politics, diplomacy, economics, trade, national security, science and technology, and education.

During the long journey of more than a decade as strategic partners, economics and trade are always bright spots in the overall multifaceted cooperation between the two sides. Commercial relations between Vietnam and Russia saw prospects with two-way trade turnover in 2018 increasing by 28.6% from the previous year.

At the event, delegates said that both Vietnam and Russia now have their own advantages to promote commercial development. Over the past years, Vietnam has made many achievements in developing economics, improving the investment and business environment, and perfecting the legal and institutional systems./.