(VOV) - Vietnam and Russia have agreed to cooperate in areas of mutual concern related to economic stabilization and management, financing, state budget collection and spending, social welfare, and human resource training.

A memorandum of understanding (MoU) in this connection was signed by the Vietnamese and Russian Ministries of Finance in Moscow yesterday, on the sidelines of the Asia-Pacific Economic Cooperation (APEC). The two sides will exchange working delegations and co-ordinate in organizing seminars, conferences and short-term training courses in Vietnam and Russia. The MoU will be valid for three years beginning next January and can be renewed as agreed by the two sides.