VN, Russia to promote businesses’ cooperation in oil, gas exploration

Russian Prime Minister Dmitry Medvedev (R) welcomes Vietnamese counterpart Nguyen Xuan Phuc in Moscow on May 22. (Photos: VNA)

The host welcomed PM Phuc’s official visit, affirming that Russia always wishes to strengthen the countries’ comprehensive strategic partnership. In return, PM Phuc reiterated that Vietnam always treasures traditional cooperation and friendship with Russia.

The two leaders highlighted the importance of organising the Vietnam Year in Russia and the Russia Year in Vietnam in 2019 and 2020, describing these as major events in bilateral ties, contributions to the time-tested friendship, and a new driving force for their cooperation.

They said political relations have continually been solidified with frequent mutual visits and meetings at all levels and through all channels.

They noted with satisfaction that as a result of the free trade agreement between Vietnam and the Eurasian Economic Union that came into force in 2016, Vietnam-Russia trade and investment have made strong progress as bilateral trade reached 4.57 billion USD (over 6 billion USD in Russian data) in 2018, up 28.6 percent year-on-year.

To further tap into their trade partnership potential, the two sides said they will continue working together to create conditions for their businesses and goods to enter each other’s markets.

The two PMs affirmed that energy is one of the most important pillars of Vietnam-Russia cooperation. They agreed to promote businesses’ cooperation in oil and gas exploration and exploitation in Vietnam’s continental shelf and Russia’s territory.

They shared the view that despite the many projects proposed and carried out, much potential remains in investment partnership between their countries. They also welcomed Vietnamese and Russian firms’ attention to collaboration in developing urban transport and railway infrastructure in Vietnam.

The leaders also agreed to accelerate the construction of a research centre for nuclear science and technology in the Southeast Asian nation.

Highly valuing the fruitful cooperation in defence-security, PM Phuc and PM Medvedev said it has helped enhance the two countries’ strategic mutual trust. They concurred in continuing to expand ties in other potential spheres such as science-technology, education-training, culture, sports, and tourism.

They also voiced their support for direct relations between Vietnamese and Russian localities, which will help persify the all-round cooperation. Some measures were also devised to bolster labour cooperation – a potential area that matches demand on both sides.

PM Phuc took this occasion to thank Russian leaders and relevant agencies for creating conditions for Vietnamese people to live, do business, and study in the country.

At the talks, the PMs also exchanged views on many international and regional issues of shared concern, including the maintenance of peace, stability, security, safety, and freedom of navigation and aviation in Asia-Pacific, including the East Sea.

Vietnam spoke highly of Russia’s role as a powerful nation and hopes that it will continue helping ensure regional and global peace, security, and stability.

PM Phuc invited his counterpart to visit Vietnam in the near future. For his part, PM Medvedev thanked and accepted the invitation with pleasure.

Following the talks, the two leaders witnessed the signing of many cooperation documents in such fields as nuclear energy, oil and gas, construction, tourism, justice, and locality-to-locality ties.

VNF/VNA