vietnam russia jan 02
VIET NAM, RUSSIA MEET ON
ECONOMIC, COMMERCIAL, AND SCIENTIFIC COOPERATION
Ha Noi, Jan. 20 (VNA) -- Viet Nam and
Russia have agreed to promote financial and banking cooperation, complete the
payment mechanism, and facilitate goods exchanges and investment.
The agreement was reached during the eighth session of the Viet
Nam-Russia Inter-governmental Committee for Economic, Commercial, Scientific,
and Technical Cooperation held in Ha Noi from Jan. 18-20.
The Vietnamese delegation to the session was led by Nguyen Manh
Cam, Deputy Prime Minister and Chairman of the Vietnamese sub-committee; and the
Russian delegation by Viktor Khristenko, Deputy Prime Minister and Chairman of
the Russian sub-committee.
The two delegations to the session also agreed to further develop
cooperation in economy, commerce, science, and technology by paying attention to
diversifying exports to the other country.
It was reported at the session that two-way trade value between
Viet Nam and Russia was estimated at USD 550 million last year, a 50 percent
year-on-year increase.
They were of the same view to raise the effectiveness of the
operations of the Viet Nam-Russia petroleum joint venture (Vietsovpetro), which
they described as a vivid manifestation of the effective petroleum cooperation
between the two countries. They pointed to the need to speed up the construction
of the Dung Quat Oil Refinery in Viet Nam's central Quang Ngai province for
operation in 2004 in order to help boost bilateral cooperation.
The two also discussed measures to develop cooperation in electric
industry and agreed to assign relevant agencies to build cooperation programmes
to build hydro- and thermal-power projects in Viet Nam. They reached agreement
in orientations and measures to expand cooperation in other fields including
coal mining, construction, science and technology, education and training, farm
produce processing, chemicals, aviation, and posts.
The two sides agreed to assist direct exchanges of goods between
localities of the two countries by permiting the establishing of commercial
centres and representative offices.
At the session, Deputy PM Cam expressed his high appreciation of
the efficiency in cooperation between Viet Nam and Russia, affirming that Viet
Nam has always attached importance to consolidating and developing traditional
friendship and comprehensive cooperation with Russia.
Meanwhile, Deputy PM Khristenko reiterated that Viet Nam holds a
priority position in Russia's foreign policy towards Asia and Southeast Asia.
A ceremony for the signing of a contract to expand Vietsovpetro's
operation area to Lot 0-93 took place during the three-day session.--VNA