Measures to step up cooperation between Vietnam and Russia were discussed by Vietnam’s Deputy Prime Minister Pham Binh Minh and visiting Russian Foreign Minister Sergey Lavrov at their talks in Hanoi on Wednesday, after which the two sides signed a cooperation agreement. At their meeting, the two officials highly valued the sound development of their countries’ bilateral relationship over the past years and discussed ways to beef up ties in various areas, including trade, science, technology, education, culture, and humanity. Both host and guest agreed that trade cooperation between the two countries has maintained good growth in recent years, with two-way trade amounting to US$3.97 billion last year, up 7 percent from 2012. However, Deputy PM Minh, who is also the Foreign Minister, pointed out that the trade value is still modest in comparison to the two countries’ potentials, as it only accounts for some 1 percent and 0.5 percent of the total import-export figures of Vietnam and Russia, respectively. Meanwhile, Lavrov believed that the two-way trade will rise after Vietnam and the Customs Union of Russia, Belarus and Kazakhstan sign a free trade agreement. Given that negotiation for the Vietnam-Customs Union FTA is underway in a positive manner, he expressed hope that Vietnam will join the union soon. Lavrov also stressed that Russia appreciated Vietnam’s increasing role in Southeast Asia in particular and Asia-Pacific in general, and suggested that the Southeast Asian nation continue working as a bridge between Russia and ASEAN.

The two top diplomats also reviewed the progress of some key cooperative projects in Vietnam, including the Ninh Thuan Nuclear Power Plant No. 1 in south-central Ninh Thuan Province, and the Center for Nuclear Science and Technology, which will have two units in Hanoi and the Central Highlands city of Da Lat. They also discussed creating favorable conditions for Vietnamese people to work effectively and legally in Russia. Regarding the East Sea issue, Deputy PM Minh and Foreign Minister Lavrov shared the view that all disputes should be settled by peaceful means based on international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS), and the implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) while pushing for the building of a Code of Conduct (COC) in the sea area. Concluding their talks, the two officials signed a deal on cooperation between their two foreign ministries for the 2015-2016 period.

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