Vietnamese State President Tran Dai Quang and Russian President Vladimir Putin agreed to boost comprehensive cooperation between the two nations during the former’s visit to Russia from June 28 to July 1.

The two heads of state convened a meeting at the Kremlin on Thursday, expressing their belief that President Quang’s visit will create an impetus for further development of the Vietnam- Russian relationship.

During the conversation, President Quang reiterated that Vietnam has consistently focused on strengthening its comprehensive strategic partnership with Russia in order to promote further bilateral cooperation across multiple industries in the best interests of both countries’ peoples.

The two sides agreed to continue carrying out investment projects in both countries, including an oil and gas joint-venture, construction of a light industrial zone in Moscow, and projects by Vietnamese dairy group TH in some Russian localities.  

A plan to create joint ventures aimed at assembling and producing cars in Vietnam is also in the works, alongside cooperative efforts to step up energy and infrastructure collaboration, they said.

Two nations will also consider the possibility of continuing their cooperation in the use of nuclear power for peaceful purposes.

The presidents reached consensus on further enhancing collaboration in defense and security, especially in military engineering, and expand ties in science and technology, education and training, culture, tourism, and others.

According to President Putin, Russia’s investment projects in Vietnam are worth a total of US$2 billion, while Vietnam’s investment in Russia is $2.4 billion.

The two countries are set to establish a $500 million investment fund focused on prioritizing agriculture.

They also set a target of raising bilateral trade to $10 billion by 2020.

Oil and gas will remain a top priority sector for cooperation between the two countries, Putin said.

Regarding the situation in the East Vietnam Sea, the two leaders agreed that any dispute should be resolved by peaceful means in accordance with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Following their talks, the two presidents witnessed the signing of seven significant cooperation deals.

President Quang also met with Russian Prime Minister Dmitry Medvedev and leader of the Communist Party of the Russian Federation Gennady Zyuganov in Moscow on the same day. 

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