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Online conference highlights Vietnam - Russia economic relations amid Covid-19

08:52 | 06/06/2020

The Russian Academy of Sciences (RAN) and Vietnam’s National University of Economics (NEU) hosted a video conference on June 4 to discuss the Vietnam-Russia economic relations amid new challenges. The conference attracted a number of experts, scientists, and policymakers from the two countries.

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online conference highlights vietnam russia economic relations amid covid 19
(Photo: Nhan Dan)

The Russian Academy of Sciences and Vietnam’s National University of Economics hosted a video conference on June 4 to discuss the Vietnam-Russia economic relations amid new challenges, according to VNA.

The event, which marked the Vietnam Year in Russia and Russia Year in Vietnam, was attended by Chairman of the Vietnam National Committee for the Pacific Economic Cooperation Council (PECC) Vo Tri Thanh and experts from ministries and governmental agencies as well as leading universities and academies from both sides.

Speaking at the event, Director of the Institute of Economics, the Russian Academy of Sciences, Prof. Dr. Elena Lenchuk stated the seminar was held on the occasion of the 70th founding anniversary of Vietnam-Russia diplomatic relations and the 90th founding anniversary of the Institute of Economics.

online conference highlights vietnam russia economic relations amid covid 19
The video conference (Photo: Bao tin tuc)

Professor, Dr. Elena Lenchuk emphasized the strong cooperation relationship between Russia and Vietnam in the past 70 years. She said that both Russia and Vietnam economy have grown sustainably over the past time. Russia attaches special importance to expanding cooperation in the Asia-Pacific region, in which Vietnam is a very dynamic developing country. Therefore, the two countries faced many opportunities to promote cooperation, reported by VOV.

She confirmed that the COVID-19 pandemic could not prevent scientists from the two countries "meeting" in a new way. This meeting was by no means accidental, but shows Russia's great interest in economic cooperation with Vietnam, she added.

online conference highlights vietnam russia economic relations amid covid 19
Experts discuss at the conference (Photo: Vietnam Plus)

For his part, Assoc. Prof. Dr. Pham Hong Chuong, Rector of the National Economics University, emphasised that the COVID-19 pandemic has posed new challenges for economic cooperation between the two countries, and this workshop was an effort to overcome this difficult reality.

He also underscored the leading role of Vietnamese scientists in advising the Party and the Government in planning directions and policies for economic development, Nhan Dan reported.

According to Ms. Nguyen Khanh Ngoc - Deputy Director of Europe-America Market Department - Ministry of Industry and Trade, with strong development in the past, Vietnam and Russia have become important partners of each other in cooperation. economy. Vietnam is currently the leading trading partner of the Russian Federation in ASEAN and the fifth largest exporter of goods to the Russian Federation in the APEC (after China, the United States, Japan and South Korea). The Russian Federation is Vietnam's 5th largest trading partner in Europe.

online conference highlights vietnam russia economic relations amid covid 19
(Photo: VOV)

And Mr. Aleksander Cardo - Deputy Head of Trade Representative of the Russian Federation in Vietnam noted that, immediately after the Free Trade Agreement between Vietnam and Eurasian Economic Union came into effect, 2/3 of the import tax has been abolished and the rest of the tariffs will gradually be eliminated by 2026. Trade between Russia and Vietnam has reached a record in 2018 and amounted to US $ 6.1 billion. In the same year, Russian exports to Vietnam reached the highest figure ever - 2.5 billion USD, mainly due to the supply of cereals and machinery products.

The seminar was divided into 3 discussion sessions, focusing on 3 main topics: "Main trends in trade-investment cooperation between Vietnam and Russia in the 2010-2020 period", "Vietnam-Russia relations with the challenges of the Covid-19 pandemic" and "Decreasing oil prices and energy cooperation between Vietnam and the Russian Federation". Participants of the seminar presented nearly 20 presentations, made assessments and summaries on achievements of economic-trade, investment and energy cooperation between the two countries during the past years, and discussed new opportunities to take advantage of, VOV reported.

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