Trade turnover between Russia and Vietnam may reach $10 billion by 2020
27.03.2019
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For this, it is necessary to increase the volume of mutual investments.
This was stated by the Minister of Industry and Trade of the Russian Federation Denis Manturov during negotiations in Hanoi with his Vietnamese counterpart Tran Tuan An.
“Our goal is to increase trade to $10 billion by 2020. We will have to work very hard to achieve these figures,” TASS quotes him as saying.
The task of bringing trade between Russia and Vietnam to $10 billion by 2020 was set by the leadership of the two countries. In 2018, this indicator exceeded $6 billion, having increased by 15% over the year. This was the result of the entry into force of the Free Trade Zone Agreement between Vietnam and the Eurasian Economic Union.
According to the Russian and Vietnamese ministers, it is possible to achieve the set targets provided that mutual investments in the economy of the two countries increase.
"We have serious opportunities for building up investment cooperation through the current high-level working group on priority investment projects," said Tran Tuan Anh.
These projects are aimed at promoting Russian aviation equipment to the Vietnamese market, delivery and organization of assembly of vehicles here, supply of power equipment, participation of Russian companies in the modernization of energy facilities in Vietnam, built during the Soviet era, and a number of other areas.
Following the negotiations, D. Manturov and Tran Tuan Anh signed updated list of priority investment projects, updated taking into account the current economic onomic situation and interests of the parties.
| Delegation of the Chamber of Commerce and Industry of the Russian Federation traveled on a business mission to Vietnam |  |
The task of bringing trade between Russia and Vietnam to $10 billion by 2020 was set by the leadership of the two countries. In 2018, this indicator exceeded $6 billion, having increased by 15% over the year. This was the result of the entry into force of the Free Trade Zone Agreement between Vietnam and the Eurasian Economic Union.
According to the Russian and Vietnamese ministers, it is possible to achieve the set targets provided that mutual investments in the economy of the two countries increase.
"We have serious opportunities for building up investment cooperation through the current high-level working group on priority investment projects," said Tran Tuan Anh.
These projects are aimed at promoting Russian aviation equipment to the Vietnamese market, delivery and organization of assembly of vehicles here, supply of power equipment, participation of Russian companies in the modernization of energy facilities in Vietnam, built during the Soviet era, and a number of other areas.
Following the negotiations, D. Manturov and Tran Tuan Anh signed updated list of priority investment projects, updated taking into account the current economic onomic situation and interests of the parties.
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