Speaking at the opening ceremony, Deputy Prime Minister Trinh Dinh Dung said that the free trade agreement between Vietnam and the Eurasian Economic Union is opening up more cooperative opportunities for Vietnam and Russia and other signatories.
He asked the two countries’ business communities to actively study the agreement’s contents to take advantage of opportunities brought by this agreement.
Russia is Vietnam’s important trade partner with two-way trade hitting US$3.2 billion in the first 11 months of 2017, or a year-on-year rise of 26.7%. However, the figure is quite modest compared with the target of US$10 billion in 2020 set by the two countries’ leaders, Dung said.
Therefore, Dung expressed his hope that Vietnam’s garment, footwear, agricultural, electronic products, and consumer products can better approach the Russian market.
At the same time, Vietnam is willing to welcome agricultural and industrial products, especially in Russia’s strong fields such as energy, oil and gas exploitation, industrial equipment, automotive production and mineral, he said.
He also stressed that Vietnam hopes Russia will create favourable conditions for Vietnamese enterprises to seek investment opportunities in Russia in agriculture, food processing, information technology, services, real estate and mining.
The Expo-Russia Vietnam 2017, which will last until December 15, is attracting about 100 Russian enterprises operating in energy, mechanics, transportation infrastructure, telecommunications, mining, chemical, agriculture and high technology.
On the day, the Vietnam Chamber of Commerce and Industry, in collaboration with the second EXPO Russia-Vietnam Organising Board, held the Vietnam-Russia Business Forum as part of the Expo-Russia Vietnam 2017.