Hanoi (VNA) – Russian enterprises are displaying products of their key sectors like machinery, precision mechanics,automation equipment, industrial biotechnology, and high tech electronics at the 28th Vietnam International Trade Fair(Vietnam Expo 2018), which opened in Hanoi on April 11.

Russian exhibitors’ attendance at the event is hoped to bring an effective trade promotion chance for the twocountries’ enterprises, thus enhancing their cooperation.

Speaking at the opening ceremony of Russia’s pavilion, Deputy Minister ofIndustry and Trade Tran Quoc Khanh said the Vietnamese side is pleased thatRussia accepted the invitation to participate in the event as the guest of honour.

He highlighted the significance of the event, saying that it will help the twocountries’ business communities seek partners and establish partnerships in thecoming time.

The expo also offers a good opportunity for Vietnamese firms to learn Russia’s advancedtechnologies in aviation, railway, mining, automation and biotechnology, henoted.

In 2017, two-way trade between Vietnam and Russia hit 3.56 billion USD, up 29percent year-on-year. Vietnam’s exports to Russia valued at 2.17 billion USD (up34 percent), while its imports from Russia was 1.39 billion USD (up 23 percent). 

In the first two months of 2018, the trade between the two countries reached 657.7million USD, 45.3 percent higher than the same period last year.

The free trade agreement between Vietnam and the Eurasian Economic Union(EAEU), which took effect on October 5, 2016, is expected to serve as aneffective legal framework, helping promote the exchange of goods, services andinvestment flows between Vietnam with the EAEU in general, with Russia inparticular.

Themed “Vietnam Expo - Enhancing Regional and Global Economic Links”, the VietnamExpo 2018 attracts enterprises from 16 provinces and cities of Vietnam and 23countries and territories, including Russia, the Republic of Korea, China,Nepal, Thailand, Japan, Singapore, Cuba, Laos, Cambodia, Taiwan and Hong Kong(China), and Mongolia.

Many promotion activities will be also arranged on thesidelines of the four-day expo such as an export promotion forum, symposiums,and visits to industrial parks.-VNA