Negotiations begin for Vietnam-Russia trade deal

Vietnam began negotiations for a Free Trade Agreement with the Customs Union of Russia, Belarus and Kazakhstan in Hanoi Monday.

An FTA between the two sides will bring huge mutual economic, trade, and investment benefits, a Ministry of Industry and Trade official said on the sidelines of the meeting.

This first meeting is an important step towards the agreement, Dang Hoang Hai, head of the ministry’s European Department, said.

Russia sees Vietnam as a gateway to Asian countries, especially ASEAN members, he said.

An FTA will help Vietnam push agricultural, seafood, and garment products to Russia, he added.

Russia exports fertilizers, oil and gas, atomic energy, heavy industrial goods, and automobiles to Vietnam.

Bilateral trade is estimated to rise to US$3 billion next year and $10 billion in future, a significant figure considering Vietnam’s trade with the EU is less than $10 billion.

To promote Vietnam’s strategic partnership with Russia, leaders form the two sides have agreed to sign an FTA in the near future.

Negotiations will cover three main issues: customs barriers, services and investment, and intellectual property.

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Vietnam, Russia plan to hold FTA negotiations

Vietnam and Russia agreed to soon begin negotiations on a bilateral Free Trade Agreement (FTA) with the participation of the nations in the Customs Union ( Russia , Belarus and Kazakhstan).

The first meeting of the joint working group for the Vietnam-Russia FTA will be held in Hanoi next month to embark on steps needed for the negotiations.

The consensus on this issue was reached at the 14th meeting of the Vietnam-Russian Inter-government Committee for Economic, Commercial, Scientific and Technological Cooperation, which closed in Moscow Friday.

Minister of Industry and Trade Vu Huy Hoang, and his Russian counterpart, Viktor Khrristenko, co-chaired the meeting.

The two sides focused discussions on ways to step up cooperation in the fields of economy, commerce, science and technology, and raise two-way trade.

Both sides noted with pleasure that economic and trade relations have seen progress since the 12 th meeting. Bilateral trade reached a decade-high record of almost US$1.83 billion in 2009, including $414.89 million from Vietnamese exports.

However, the officials said economic and trade ties remain modest, failing to reach their full potential, and match with the excellent political relations, traditional friendship and strategic partnership between the two countries.

Vietnam affirmed its desire to cooperate closely and effectively with Russia in energy, with top priority given to oil and gas, and construction of power plants and coal mining.

Other fields that need to receive a boost include mechanical engineering, automobile assembly, trade, finance, banking, education, training, agriculture, science, technology, telecoms, aviation, sports, culture, tourism and space research.

Both Hoang and Khrristenko affirmed the two governments’ support for companies to explore business and investment opportunities in each other’s markets.

The two sides agreed to hold the next meeting in Vietnam in 2011.

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Vietnam, Russia plan to hold FTA negotiations

Vietnam and Russia agreed to soon begin negotiations on a bilateral
Free Trade Agreement (FTA) with the participation of the nations in the
Customs Union ( Russia , Belarus and Kazakhstan ).

The first meeting of the joint working group for the Vietnam-Russia
FTA will be held in Hanoi next month to embark on steps needed for
the negotiations.

The consensus on this issue was
reached at the 14 th meeting of the Vietnam-Russian Inter-government
Committee for Economic, Commercial, Scientific and Technological
Cooperation, which convened in Moscow from Sept. 14-17.

Minister of Industry and Trade Vu Huy Hoang, and his Russian counterpart, Viktor Khrristenko, co-chaired the meeting.

The two sides focused discussions on ways to step up cooperation in
the fields of economy, commerce, science and technology, and raise
two-way trade.

Both sides noted with pleasure that
economic and trade relations have seen progress since the 12 th
meeting. Bilateral trade reached a decade-high record of almost 1.83
billion USD in 2009, including 414.89 million USD from Vietnamese
exports.

However, the officials said economic and
trade ties remain modest, failing to reach their full potential, and
match with the excellent political relations, traditional friendship and
strategic partnership between the two countries.

Vietnam affirmed its desire to cooperate closely and effectively with
Russia in energy, with top priority given to oil and gas, and
construction of power plants and coal mining.

Other
fields that need to receive a boost include mechanical engineering,
automobile assembly, trade, finance, banking, education, training,
agriculture, science, technology, telecoms, aviation, sports, culture,
tourism and space research.

Both Hoang and
Khrristenko affirmed the two governments’ support for companies to
explore business and investment opportunities in each other’s markets.

The two sides agreed to hold the next meeting in Vietnam in 2011./.

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Vietnamese Days in Russia promotes trade

The“Vietnamese Days in Russia ” program takes place from September 13 to 18 to mark the 60 th anniversary of Vietnam-Russia diplomatic ties and the 55th anniversary of the signing of their Agreement on Economic and Trade Cooperation.

The programme, organized by Vietnam’s Chamber of Commerce and Industry (VCCI), is to promote Vietnam’s image and boost political, diplomatic, cultural and economic ties between both countries.

The programme will focus on Vietnam’s open business environment, as well as create opportunities for Vietnamese enterprises to set up investment and business ties with Russian and European partners.

The Vietnamese delegation will meet with potential Russian business partners, especially those involved in oil and gas, mining and defence. They will also survey the Russian and Eastern European markets.

The Vietnamese Days programme will include a Vietnam-Russia Economic Forum, the Vietnam-Russia Business Forum, a seminar on how to register representative offices in Russia, a State reception, a performance by Vietnamese artists and a photography exhibition.

 

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Vietnam-Russia economic forum held in Moscow

Almost 400 Vietnamese and Russian businesses attended the Vietnam-Russia economic forum entitled, “Strategic partnership – comprehensive cooperation” in Moscow, Russia Wednesday.

Addressing the opening ceremony, Vice President of the Chamber of Commerce and Industry of the Russian Federation George Petrov said that Russia and Vietnam have combined actions based on the fine traditional friendship, mutual trust and understanding, active political dialogue and cooperation for mutual interest.

Two-way trade value recorded a year-on-year increase of 8.2 percent to more than US$1.5 billion in 2009 despite the global economic crisis and reached $924 million in the first half of the year, he said.

Vietnam now has 59 Russian-invested projects totalling more than $576 million, excluding those of the oil and gas industry, he added.

However, Petrov noted, the two countries have yet brought into play the full potential of the bilateral relationship.

He suggested the two countries’ businesses increase contacts, exchange market information and further coordinate with each other in gaining access to other regional markets.

He expressed the hope that both countries would sign a number of cooperation agreements to further promote the strategic partnership and comprehensive cooperation during Russian President Dmitry Medvedev’s upcoming visit to Vietnam .

Petrov also called on Vietnamese businesses to invest in and cooperate with Russia’s Far East and Sibir regions.

Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Gia Tuc took the occasion to introduce almost 100 Vietnamese businesses participating in the Vietnamese Days in Russia expo and VCCI’s business promotion and connectivity activities.

For his part, Minister of Industry and Trade Vu Huy Hoang spoke of the advantages of Vietnam ’s business and investment environment, saying that the nation is an active developing market which is safe and stable and deeply integrating into the global economy.

Vietnam ’s policy considers the foreign-invested businesses as part of Vietnamese business and creates favourable conditions for investors, he confirmed.

He called on overseas Vietnamese business people in Russia to invest directly or through joint ventures in the home country.

A seminar on the establishment of Vietnamese businesses’ representative offices in Russia and a meeting between the two countries’ businesses took place within the framework of the forum.

 

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Vietnam-Russia economic forum held in Moscow

Almost 400 Vietnamese and Russian businesses attended the Vietnam-Russia
economic forum entitled, “Strategic partnership – comprehensive
cooperation” in Moscow , Russia , on Sept. 15.

Addressing the opening ceremony, Vice President of the Chamber of
Commerce and Industry of the Russian Federation George Petrov said that
Russia and Vietnam have combined actions based on the fine
traditional friendship, mutual trust and understanding, active political
dialogue and cooperation for mutual interest.

Two-way trade value recorded a year-on-year increase of 8.2 percent to
more than 1.5 billion USD in 2009 despite the global economic crisis and
reached 924 million USD in the first half of the year, he said.

Vietnam now has 59 Russian-invested projects totalling more
than 576 million USD, excluding those of the oil and gas industry, he
added.

However, Petrov noted, the two countries have yet brought into play the full potential of the bilateral relationship.

He suggested the two countries’ businesses increase contacts,
exchange market information and further coordinate with each other in
gaining access to other regional markets.

He
expressed the hope that both countries would sign a number of
cooperation agreements to further promote the strategic partnership and
comprehensive cooperation during Russian President Dmitry Medvedev’s
upcoming visit to Vietnam .

Petrov also called on Vietnamese businesses to invest in and cooperate with Russia ’s Far East and Sibir regions.

Vice President of the Vietnam Chamber of Commerce and Industry (VCCI)
Pham Gia Tuc took the occasion to introduce almost 100 Vietnamese
businesses participating in the Vietnamese Days in Russia expo and
VCCI’s business promotion and connectivity activities.

For his part, Minister of Industry and Trade Vu Huy Hoang spoke of
the advantages of Vietnam ’s business and investment environment,
saying that the nation is an active developing market which is safe and
stable and deeply integrating into the global economy.

Vietnam ’s policy considers the foreign-invested businesses as
part of Vietnamese business and creates favourable conditions for
investors, he confirmed.

He called on overseas
Vietnamese business people in Russia to invest directly or through
joint ventures in the home country.

A seminar on
the establishment of Vietnamese businesses’ representative offices in
Russia and a meeting between the two countries’ businesses took place
within the framework of the forum./.

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Vietnamese Days in Russia begin

Photo: VNA

The Vietnamese pavilion was opened on Tuesday at the 19th International Exhibition of Food and Drink in Moscow, Russia, marking the start of the “Vietnamese Days in Russia-2010” program that will last through September 19.

The program will include an economic forum on the strategic partnership and comprehensive cooperation between Vietnam and Russia, a Vietnam-Russia business forum and the fifth Vietnamese entrepreneurs’ forum in Europe.

An art performance on the theme of “Vietnam’s hidden beauty”, a photo exhibition on Vietnamese land and people and an exhibition on the 1,000th anniversary of Thang Long-Hanoi – will also be held.

Minister of Industry and Trade Vu Huy Hoang, who cut the ribbon to open the Vietnamese section at the World Food Moscow 2010, said this is the first time Vietnam has attended such an exhibition in Russia.

Vietnam’s participation in the exhibition and “Vietnamese Days in Russia – 2010” aim to create conditions for the two countries’ businesses to diversify their cooperation through direct investment in Vietnam or joint ventures with Vietnamese partners in manufacturing products, said the minister.

“Vietnamese Days in Russia – 2010” is expected to enhance the traditional friendship and cooperation between the two peoples as well as the two countries’ businesses and ministries, he added.

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Vietnamese Days in Russia helps promote trade

The “Vietnamese Days in Russia ” programme takes place from
September 13 to 18 to mark the 60 th anniversary of Vietnam-Russia
diplomatic ties and the 55 th anniversary of the signing of their
Agreement on Economic and Trade Cooperation.

The programme, organised by Vietnam ’s Chamber of Commerce and Industry
(VCCI), is to promote Vietnam ’s image and boost political,
diplomatic, cultural and economic ties between both countries.

The
programme will focus on Vietnam ’s open business environment, as
well as create opportunities for Vietnamese enterprises to set up
investment and business ties with Russian and European partners.

The
Vietnamese delegation will meet with potential Russian business
partners, especially those involved in oil and gas, mining and defence.
They will also survey the Russian and Eastern European markets.

The
Vietnamese Days programme will include a Vietnam-Russia Economic Forum,
the Vietnam-Russia Business Forum, a seminar on how to register
representative offices in Russia , a State reception, a performance
by Vietnamese artists and a photography exhibition./.

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