HCMC – State President Truong Tan Sang on Thursday began his Russia visit at the invitation of Russian counterpart Vladimir Putin, paving the way for bilateral relations to grow to a higher plane.
President Sang begins Russia visit to cement ties
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| Russian Prime Minister Dmitry Medvedev (R) shakes hands with Vietnamese President Truong Tan Sang during their meeting in Moscow on Thursday - Photo: Reuters |
HCMC – State President Truong Tan Sang on Thursday began his Russia visit at the invitation of Russian counterpart Vladimir Putin, paving the way for bilateral relations to grow to a higher plane.
For the first time, the heads of state of the two countries will hold top-level talks in the famous Sochi City on the Black Sea coast. Sang’s visit will wrap up next Monday.
In his presidential decree on diplomatic policy in his new term, Putin puts Vietnam on the list of important Asia-Pacific partners, after China and on a par with India.
Russia is the first country in Europe Sang has come in his capacity as State president.
In addition to his talks with President Putin in Sochi, President Sang will have a meeting with Prime Minister Dmitry Medvedev, President of the Senate and other high officials of Russia.
Sang will tour the autonomous region of Nhenhetsky and attend a ceremony to receive the first industrial oil flow at the Western Khosedai oil field developed by the joint venture Rusvietpetro.
Seven pacts on cooperation in economy, trade, science, technology and legal assistance are expected to be signed during Sang’s visit.
The Kremlin’s press service reports the two presidents will discuss prospects for implementing large-scale joint projects in fields such as energy, information technology, machinery manufacturing and science-technology.
The two will also exchange views on pressing international issues, including preparations for the Asia-Pacific Economic Cooperation (APEC) Summit slated for this September in Vladivostok, Russia Far East.
Trade is one of the bright spots in Vietnam-Russia relations. In 2011, their two-way trade amounted to US$1.98 billion, up 8.1% against 2010, in which Vietnam exported nearly US$$1.3 billion worth of products.
Both sides are looking to step up trade volume to US$$3 billion this year, and US$10 billion by 2020.
Vietnam’s investment in Russia has been increasing rapidly in recent years, from around US$100 million in 2008 to US$776 million by the end of this May.
Russia has many important projects in Vietnam. With 78 projects worth a total of US$919 million, Russia ranks 23rd among the foreign investors in Vietnam.
One of the most important cooperation projects between the two countries is the first nuclear power plant which Vietnam will build in Ninh Thuan Province on the central coast, with technical assistance and funding to be provided by Russia
The important area with efficient cooperation over the years has been security and defense, which will be one of the key issues in Sang’s Russia visit.
In 2010, during the visit of the then Russian President Medvedev to Vietnam, the heads of state of the two countries expressed support for establishment of a cooperative security structure of openness, equality and transparency in Asia-Pacific, based on the principles of international laws and the legitimate interests of related parties.