At the event, Hoang Huu Nghia, Chairman of the Vietnam-Russia Friendship Association in Ho Chi Minh City, said that 21 years ago the Russian parliament formally declared Russian sovereignty from the Soviet Union and opened a new era in the country’s history.

The Vietnamese people have always been grateful for the Russian people’s support in their resistance wars to defend the country and during the process of national construction.

After 60 years of diplomatic ties both countries have strengthened their multi-faceted strategic cooperation particularly in oil exploration, by signing an inter-governmental agreement to extend the Vietsovpetro Joint Venture to 20 years.

The two sides also discussed solutions for cooperation projects including a project to build the first nuclear power plant in Vietnam.

They will also work together to explore titanium mines, produce natural rubber and develop mobile information services.

Last year, two-way trade between the two countries reached US$2.4 billion and the figure is expected to hit US$3 billion in 2012 and US$10 billion by 2020.

Around 120,000 Russian visitors traveled to the southern regions of Vietnam in 2010.