Vietnamese and Russian leaders have agreed to speed up a free trade agreement (FTA) between Vietnam and the customs alliance of Russia, Belarus, and Kazakhstan. Vietnamese President Truong Tan Sang and Russian Prime Minister Dmitry Medvedev reached the consensus at a meeting in Moscow yesterday/ on Wednesday. The meeting followed a reception for the Vietnamese leader at the Vnukovo-2 Airport. The leaders said the FTA will open up greater economic, trade, investment, and service co-operation between the two countries.

VNese President and Russian Prime Minister meet (Photo:Internet)

They agreed to kick off FTA negotiations at the Asia-Pacific Economic Co-operation (APEC) Summit to be held in Vladivostok, Russia, this September.

President Sang and PM Medvedev shared the view that the strategic partnership between Vietnam and Russia has developed strongly and effectively.

Bilateral political relations have been further strengthened while co-operation in economics-trade, science-technology, security-defence, education-training, culture, and tourism has been continuously expanded.

The two sides spoke highly of strategic co-operation projects Vietnam and Russia are jointly implementing, especially those in oil and gas and nuclear power, including the Ninh Thuan 1 nuclear power plant.

PM Medvedev affirmed that Russia will continue to pay attention to energy co-operation projects with Vietnam and create favorable conditions for the two countries’ oil and gas joint ventures to carry out signed contracts and expand oil and gas exploration and exploitation in Russia. President Sang assured his host that Vietnam will create all favorable conditions for Russian oil and gas businesses to continue co-operation in oil and gas exploration and exploitation on VN’s continental shelf.

The two sides agreed to seek new areas of co-operation, while helping Vietnamese businesses to take part in development project in Russia’s Far Eastern region and Russian companies to do business in Vietnam. The leaders were pleased with the results of bilateral military co-operation, and added that Vietnam and Russia should continue to strengthen ties in education-training, science-technology, culture, and tourism.

They also exchanged views on expanding relations between the Communist Party of Vietnam and the United Russia Party, including the exchange of high-level visits. The same day, President Sang met with Vietnamese embassy staff and representative of the Vietnamese community in Russia.