New momentum to boost Vietnam-Russia cooperation

(VOVWORLD) - Prime Minister Nguyen Xuan Phuc left Hanoi on Monday for an official visit to Russia. The 3-day visit comes as the two countries celebrate 70 years of diplomatic relations and 25 years of their Treaty on Basic Principles for Bilateral Relations. The visit is expected to create stronger momentum for bilateral ties.

The former Soviet Union was one of the first countries to recognize and establish diplomatic ties with Vietnam. Since then the two countries have expanded relations in all fields.

Fruitful cooperation

In 2001 Vietnam and Russia established a strategic partnership, which was upgraded to a comprehensive strategic partnership 11 years later.

The two countries have strengthened their mutual trust and diversified cooperation. They have set up mechanisms for annual high-level exchanges and have collaborated closely at international forums like the UN, APEC, ASEM, and ARF.

Bilateral trade has grown rapidly since the Vietnam-Eurasian Free Trade Agreement took effect in late 2016, reaching 4.5 billion USD last year, 28.5% higher than in 2017. Russia ranks 24th among countries and territories invested in Vietnam with 127 projects worth more than 950 million USD. Vietnam has 20 investment projects worth approximately 3 billion USD in Russia. Energy is the major field of cooperation between the two.

The Soviet Union trained some 40,000 Vietnamese experts in various fields. Russia now provides 1,000 scholarships to Vietnamese students every year and is one of the top 10 feeder markets for Vietnam’s tourism.

Russia supports Vietnam’s stance on settling disputes in the East Sea by peaceful means and not using or threatening to use force, based on international law, the 1982 UN Convention on the Law of the Sea, and the Declaration on the Conduct of Parties in the East Sea, and soon finalizing the Code of Conduct of Parties in the East Sea.

Important milestone in bilateral ties

PM Phuc’s visit to Russia from Monday to Thursday takes place in the context of Vietnam Year in Russia this year and Russia Year in Vietnam in 2020 to mark the 70th anniversary of diplomatic relations and the 25th anniversary of the signing of the Treaty on Basic Principles for Bilateral Relations. 

During his visit, Prime Minister Phuc will join the Russian Prime Minister and other Russian officials in chairing the opening of Vietnam Year in Russia and will discuss with Russian leaders ways to boost their comprehensive strategic partnership and strengthen mutual understanding.