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Russia & Vietnam Look to Boost Trade Turnover Next Year
USAgNet - 11/21/2018

Moscow wants to boost economic ties with Hanoi, according to the Russian Prime Minister Dmitry Medvedev. He said the two countries have agreed to nearly triple trade turnover by the end of next year.

Medvedev is currently on an official visit to Vietnam where he has already met with the Vietnamese Prime Minister Nguyen Xuan Phuc.

"We have agreed to cooperate more closely and effectively implement a free trade agreement Vietnam has signed with the (Russia-led) Eurasian Economic Union," Phuc told reporters Monday after meeting with Medvedev.

He explained the two countries are looking to facilitate bilateral trade in farm produce and seafood and will have measures to support joint energy investment projects.

The volume of Russia-Vietnam trade amounted to $3.37 billion in January-August 2018. Last year, trade turnover increased by 36.2 percent to $5.23 billion. Russia’s exports to Vietnam include machinery and equipment, grain crops, food products, mineral raw materials, metals, etc. Imports included electrical engineering and components, mobile phones, textiles, food, and agricultural raw materials.


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