2:40:16 PM | 8/11/2005
Hanoi will shortly set up a trade center with total investment capital of $30 million in Russia, under an agreement between the Hanoi City People’s Committee and Moscow municipal administration.
The center will operate in accordance with Russian laws to showcase Vietnamese products and boost exports to the European nation.
Hanoi has established trade centers in California of the US, and in Japan.
In related development, Ho Chi Minh City will also kick off construction of a trade center in Moscow in September 2006.
Vietnam and Russia posted two-way trade of $860 million in 2004, a year-on-year increase of 32%. Of the figure, Vietnam's exports to Russia increased by 19% to $190 million and its imports from the foreign country rose 36.2% to $670 million.
The two countries target to boost bilateral trade revenue to $1 billion this year.
Vietnam Economic Times
Vietnamese
