Moscow (VNA) – Deputy Prime Minister Trinh Dinh Dungon May 21 chaired a meeting between representatives of 100 Vietnamese firms inVietnam and Russia and Russian businesses to foster partnerships between thetwo sides.

Addressing the event, the Deputy PM lauded the efforts ofVietnamese entrepreneurs in Russia in carrying out investment and charity activitiesin the homeland, as well as their solidarity and mutual support.

Vietnam and Russia have shared a time-honoured relationshipand close partnership in many areas. Vietnam is currently the only strategicpartner of Russia in the Asia-Pacific region, he noted.

He said that over a decade as strategic partners, economics,and trade have always been a spotlight in the all-round ties between the twocountries.

Dung, who is accompanying PM Nguyen Xuan Phuc during hisRussia visit, said that the PM’s visit aims to further deepen the bilateral comprehensivestrategic partnership and seek new development orientations for the future.

In 2020, Vietnam and Russia will celebrate the 70th anniversary of diplomatic relations which obtained great achievements across politics-diplomacy,economy-trade, security-defence, science-technology, education-training,culture, and tourism.

The Vietnam-Russia ties have been intensified in four majorpillars of trade, investment, oil and gas, and electricity. Two-way trade hasbeen rising, while cooperation models have been diversified.

In 2018, trade between the two countries reached 4.57billion USD, up 28.6 percent from 2017, which is hoped to hit 10 billion USD in2020, noted the Deputy PM, praising the significant role of Vietnameseentrepreneurs in Russia in promoting Vietnamese products in the market.

The Deputy PM said that Vietnam is speeding up industrialisationand modernisation process, requiring entrepreneurs, especially those abroad, toattract more investments in the homeland and seek markets for Vietnameseproducts.

Vietnam has been pursuing an external policy ofindependence, self-reliance, multilateralisation and diversification of itsrelations, becoming a friend with all countries and engaging in many bilateraland multilateral trade agreements and new generation free trade deals. This isa good condition and a chance for Vietnam to lure more investment, he said.

He expressed his hope that Vietnamese entrepreneurs inRussia will continue reforming business and production methods to meet themarket demands, while bettering coordination with their peers at home to expandmarkets in the region.

Chairman of the Vietnamese Entrepreneurs’ Association inRussia Le Truong Son said that the meeting is a good chance for businesses ofboth sides to share experience and enhance mutual understanding.

At the event, participants worked directly with each other toseek business and investment partnerships.-VNA