Sincere Vietnamese-Russian relations

In its foreign policy of independence, self-reliance, peace, cooperation, and development, Vietnam has always considered Russia one of its most important and reliable partners. Russia provided Vietnam strong material and spiritual support its past struggle for independence and its current socio-economic development. Leaders of both countries have given top priority to the other country. Prime Minister Dmitry Medvedev told Vietnamese reporters prior to his visit to Vietnam: “Our countries have very sincere relations. We don’t simply say this as a matter of course, it’s a reality. This is a historical fact. I shared my impressions of how I became acquainted with our Vietnamese comrades who worked in Leningrad, including at the institute where my father was a teacher. Practically nothing has changed since then. Each meeting of this kind is a meeting of very good friends that generates a lot of emotions. I’m sure it will be this way now as well.”

A high-level of political trust has boosted the Vietnamese-Russian cooperation in all sectors and gained significant results. Since the establishment of a strategic partnership in March 2001 and a comprehensive strategic partnership in 2012, Vietnam and Russia have entered a new period of dynamic and effective cooperation, particularly in trade, economics, investment, and national defense.

Progressing bilateral cooperation

Last year’s trade revenue between Vietnam and Russia was nearly 4 billion USD, 10 times higher than in the 1990s. With 106 investment projects totaling 2 billion USD, Russia ranks 17^th among the 101 countries and territories invested in Vietnam. Russian investment in Vietnam has grown rapidly in recent years, mainly in mining, processing, and manufacturing, and in newer areas like banking and telecommunications. Vietnamese investment in Russia has also been high, with 19 projects worth 2.5 billion USD. Vietnam and the Customs Union of Russia, Belarus, and Kazakhstan signed a letter of intent last year to conclude a free trade negotiation and are scheduled to sign an official agreement this year.

Energy is a spearhead of Vietnamese-Russian cooperation. The two countries have established oil and gas joint ventures, including Vietsopetro, Rusvietpetro, Vietgazprom, and Gazpromviet. Prime Minister Medvedev said: “We have good historical relations in offshore exploitation. We have Vietsovpetro, a flagship company, which has been in business under agreements signed by the Soviet Union. It’s been cooperation for mutual benefit. But this doesn’t mean that we should be satisfied with what has already been achieved. This is why both Zarubezhneft and other major public and public-private Russian companies, such as Rosneft and Gazprom, have partners in Vietnam and have been negotiating cooperation agreements.”

Close cooperation at multilateral forums

Vietnam and Russia have similar views on international and regional issues, particularly in resolving territorial disputes in Asia-Pacific. Both countries uphold the principles of peace, not using force, and respecting international law in resolving disputes. Russia has turned its interest to the East and aims to enhance its influence in the Asia-Pacific region. Russia appreciates Vietnam’s position in ASEAN and considers Vietnam a link to improve its relations with other ASEAN nations.

During Russian Prime Minister Dmitry Medvedev’s visit to Vietnam, the two sides will review the implementation of prioritized tasks in 2014, agree on a list of priorities for this year, and discuss regional and world issues. The visit will reinforce the Vietnamese-Russian comprehensive strategic partnership and improve mutual understanding and trust between their leaders.