Vietnam, Russia aim to lift two-way trade to 10 billion USD by 2030

(VOVWORLD) - Parliamentary leaders of Vietnam and Russia proposed increasing the exchange of delegations at all levels to promote practical and effective cooperation, particularly through Party and parliament channels.
Vietnam, Russia aim to lift two-way trade to 10 billion USD by 2030 - ảnh 1National Assembly Chairman Vuong Dinh Hue (R) and Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Victorovich Volodin (photo: quochoi.vn)

During talks in Hanoi on Sunday, National Assembly Chairman Vuong Dinh Hue and Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Victorovich Volodin also agreed to coordinate at multilateral forums within ASEAN and the UN, and acknowledged the importance of parliamentary cooperation as a pillar of the bilateral relationship. Mr. Hue suggested that Russia consider simplifying import procedures for Vietnamese agricultural and aquatic products, calling for the advancement of negotiations, upgrades, amendments, and supplements to the Vietnam-Eurasian Economic Union (EAEU) Free Trade Agreement, with the goal of increasing two-way trade to 10 billion USD by 2030.

Chairman Hue said Vietnam supports Russia in its active role in the Asia-Pacific region, both in regional processes and on various issues, and is ready to act as a bridge in promoting cooperation between Russia and ASEAN.

He called on Russia to support the stance of ASEAN and Vietnam in resolving disputes peacefully based on international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS), and via the Russia-ASEAN relationship, act as an active factor to advocate the early building and enforcement of a Code of Conduct in the East Sea.

Chairman Volodin expressed support for Chairman Hue’s proposals and emphasized the role of the Inter-Parliamentary Cooperation Committee between the Vietnamese National Assembly and the Russian State Duma in thoroughly discussing these proposals. This committee aims to expand cooperation between the two legislative bodies, and strengthen the implementation of cooperation agreements between the two governments, he said.

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