|Russia’s pavilion at Vietnam Expo 2018 (Source: http://baochinhphu.vn)
Russian exhibitors’ attendance at the event is hoped to bring an effective trade promotion chance for the two countries’ enterprises, thus enhancing their cooperation.
Speaking at the opening ceremony of Russia’s pavilion, Deputy Minister of Industry and Trade Tran Quoc Khanh said the Vietnamese side is pleased that Russia 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 two countries’ business communities seek partners and establish partnerships in the coming time.
The expo also offers a good opportunity for Vietnamese firms to learn Russia’s advanced technologies in aviation, railway, mining, automation and biotechnology, he noted.
In 2017, two-way trade between Vietnam and Russia hit US$3.56 billion, up 29% year-on-year. Vietnam’s exports to Russia valued at US$2.17 billion (up 34%), while its imports from Russia was US$1.39 billion (up 23%).
In the first two months of 2018, the trade between the two countries reached US$657.7 million, 45.3% 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 an effective legal framework, helping promote the exchange of goods, services and investment flows between Vietnam with the EAEU in general, with Russia in particular.
Themed “Vietnam Expo - Enhancing Regional and Global Economic Links”, the Vietnam Expo 2018 attracts enterprises from 16 provinces and cities of Vietnam and 23 countries 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 the sidelines of the four-day expo such as an export promotion forum, symposiums, and visits to industrial parks.