Yesterday it was America, today Russia with China on their heels of a changing geopolitical map.
Somehow a trade deal maybe a pivot without substance.
Image: ReutersTuoitrenews
9 november 2013
During Russian President Vladimir Putin’s visit to Vietnam starting on November 12, the two countries will sign 15 cooperation agreements on economics, energy, science-technology, education, health care and military affairs, said Vietnamese Ambassador to Russia Pham Xuan Son.
Ambassador Son released the information during a recent interview with a Russia-based Vietnam News Agency correspondent on the Russian President’s upcoming visit, the third made to Vietnam by Putin, at the invitation of Vietnamese President Truong Tan Sang.
During the trip, President Putin and Vietnamese leaders will review their bilateral cooperation since both nations established a comprehensive strategic partnership in 2012 and discuss steps to further boosting ties.
The two countries’ long-established and crucial links in the oil and gas field has progressed outstandingly since 2010, Ambassador Son said.
Vietnam has benefited from oil and gas cooperation with Russia not only in economics but also in security affairs and sea and island sovereignty and integrity defense.
In late 2010, Vietnam and Russia signed an energy cooperation scheme that devised seven prioritized cooperation approaches and a roadmap. In 2010-2011, the two sides signed an agreement on Russia’s supply of credit to Vietnam to build a nuclear power plant.
Regarding defense, Russia recently handed over modern sub-marine Kilo to Vietnam, which is expected to help Vietnam contribute more to maintaining peace, stability and cooperation in the East Sea.
In respect of trade, the two countries will work to speed up negotiations on a free trade agreement between Vietnam and the Union of Customs of Russia, Kazakhstan and Belarus to make it easier for Vietnamese goods to enter these markets.
Two-way trade between Vietnam and Russia hit about US$2.5 billion in January-August, Of the figure, Vietnam exported $1.7 billion to the European country, largely oil and gas, metal, fertilizers, chemicals and machinery. The figure is expected to reach $4 billion this year.
Russian investors are developing 93 projects worth nearly $2 billion in Vietnam, making it Vietnam’s 19th biggest foreign investor. Meanwhile, Vietnam has developed 17 projects valued at about $2.4 billion in Russia since 2010.
original article found here
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