Vietnamese and Russian leaders have agreed on a two-way deal for the exploration and exploitation of oil in Russia – and Viet Nam's continental shelf.
Ha Noi – Vietnamese and Russian leaders have agreed on a two-way deal for the exploration and exploitation of oil in Russia – and Viet Nam's continental shelf.
Vietnamese President Truong Tan Sang and Russian Prime Minister Dmitry Medvedev decided this at a meeting in Moscow yesterday.
PM Medvedev said Russia would continue to create favourable conditions for energy co-operation projects and expand oil and gas exploration and exploitation in Russia .
President Sang replied that Viet Nam would do the same for Russian oil and gas businesses in exploring and exploiting oil and gas on Viet Nam's continental shelf.
Their agreement follows a decision to speed up the signing of a free-trade agreement (FTA) between Viet Nam and Russia , Belarus and Kazakhstan, who are linked by a customs alliance.
Both leaders said a trade deal would provide great prospects for increasing economic, trade, investment and service co-operation between the group.
Russia and Viet Nam agreed to begin negotiations at the forthcoming Asia-Pacific Economic Co-operation (APEC) summit to be held in Vladivostok, Russia, this September.
The two leaders noted the positive development of Viet Nam-Russia trade ties which were expected to produce a total of US$3 billion this year.
However, they said the figure was modest compared to the potential and demand.
President Sang and PM Medvedev said the strategic partnership between Viet Nam and Russia had developed strongly.
Not only had political relations been strengthened, but co-operation in economics and trade, science and technology, security and defence, education and training, culture and tourism had also expanded.
The two sides spoke highly of strategic projects they were jointly implementing, especially those in oil and gas and nuclear power, including the Ninh Thuan 1 nuclear power plant.
They also agreed to seek new areas of co-operation – helping Vietnamese businesses take part in development projects in Russia's Far Eastern region as well as Russian companies to do business in Viet Nam.
The leaders said they were pleased with the results of bilateral co-operation in national defence and military techniques, and added that Viet Nam and Russia should continue to strengthen ties in education-training, science-technology, culture and tourism.
They also exchanged views on expanding relations between the Communist Party of Viet Nam and the United Russia Party led by Medvedev, including the exchange of high-level visits.
President Sang thanked the Russian Government for creating favourable conditions for Vietnamese people residing in Russia.
On the same day, President Sang met Vietnamese embassy staff and representatives of the Vietnamese community in Russia .
Medvedev also said co-operation in trade and humanitarian activities had been effective.
More than 52,000 Vietnamese have received under-graduate and graduate training in Russia. Nearly 6,000 others are currently studying there.
Meanwhile, the number of Russians travelling to Viet Nam has increased significantly following Viet Nam's move to exempt Russian tourists staying for 15 days from visa rules.
A total of 780,000 Russian visited Viet Nam in 2011, up 53 per cent year-on-year. The figure for the first five months of this year reached 870,000.—VNS