Vietnamese private enterprises are seeking cooperation opportunities in supporting industries with Russian companies, said Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), at a recent working meeting with Mr Sergey Anatolievich Korotkov, Chairman of the International Congress of Industrialists and Entrepreneurs, in Hanoi.
Dr Khuong said that cooperation relations between Vietnam and Russia in economy, trade and investment are developing fruitfully. The economic cooperation has been strengthened with four pillars, including trade, investment, oil and gas, and electrical energy.
He said that the Free Trade Agreement (FTA) was signed by Vietnam and the Eurasian Economic Union on May 29 has opened up many opportunities for Vietnamese goods to enter markets in the region. Vietnam’s key exports like apparels, footwear, seafood and foodstuff will be imposed very low tariffs, even zero. This plus will edge up the price competitiveness of Vietnamese products in Russia. This unprecedented treatment is also the basis for the two sides to bring the bilateral trade turnover to US$10 - 12 billion by 2020.
Mr Sergey Anatolievich Korotkov said, in spite of good fruits in bilateral ties, there is still much room for Vietnam and Russia to boost cooperation, particularly in economy.
Regarding cooperation with VCCI, he noted that the two sides signed a cooperation agreement in November 2000. After 15 years, the cooperation agreement has not produced results as expected. He proposed the two sides increase information exchange, and join hands to open more business forums to create cooperation opportunities for businesses of both sides.
Mr Sergey Anatolievich Korotkov said he wants to cooperate with Vietnam in a communications technology project. Specific operations of this project will soon be submitted to the Government of Vietnam and introduced to companies in the near future. For his part, Dr Khuong agreed and pledged that VCCI will actively cooperate with Russian companies seeking to cooperate and invest in Vietnam. VCCI will also study and introduce this project to Vietnamese businesses.
He added that Vietnam is encouraging the development of private economic sector and therefore private companies increase in both quantity and quality. Private companies have contributed significantly to the country’s economic, cultural and social development. Besides, Vietnam’s industry still has drawbacks, particularly the weakness of supporting industries. Speaking high of industrial sciences and technologies in Eastern European nations in general and in Russia in particular, VCCI Vice President called companies in this region to step up to seek investment opportunities in Vietnam’s supporting industries. The Vietnamese Government is also calling foreign firms to cooperate with domestic firms to invest in this important field.
Dr Khuong also suggested Vietnam and Russia should review and modify the cooperation agreement signed in November 2000. If necessary, the both sides may consider signing a new one to update new changes. He also suggested adding supporting industries to this cooperation agreement.
Ha Vu
Vietnamese
