FM Bui Thanh Son to visit Russia this weekend

Both sides will discuss measures to strengthen the comprehensive strategic partnership between the two countries as well as cooperation between the two Foreign Ministries.

Vietnam and the former Soviet Union, now Russia, established diplomatic ties in 1950. They lifted their relationship to a level of strategic partnership in 2001 and then comprehensive strategic partnership in 2012 to fully tap into the two countries’ potential.  

Russia is an important strategic partner in Vietnam. The October 2016 enforcement of the Vietnam - Eurasian Economic Union Free Trade Agreement, of which Russia is a member, has opened up many business and investment opportunities for both sides.

Two-way trade turnover between Vietnam and Russia reached US$4.85 billion in 2020, up 9% compared to 2019. In the first half of 2021, bilateral trade value hit US$2.6 billion, a year-on-year rise of 12.5%.

As of 2019, Russia ranked 25th among foreign investors in Vietnam, pouring US$943 million into 137 projects. Meanwhile, Vietnam has so far invested nearly US$3 billion in more than 20 projects in Russia.

The two countries closely coordinate and support each other at international forums such as the United Nations, the Asia-Pacific Economic Cooperation forum. (APEC), Asia-Europe Summit (ASEM), ASEAN Regional Forum (ARF), and Conference on Interaction and Confidence Building Measures in Asia (CICA).