Russian businesses are interested in expanding cooperation with Vietnam in the areas of liquefied natural gas (LNG) supplies, petroleum products, and automotive industry development. This was stated by Maxim Reshetnikov, Minister of Economic Development, following negotiations between Russia and Vietnam.
It was emphasized that the automotive production sector was taken into account in the free trade agreement between the EAEU and Vietnam. Furthermore, cooperation between the two countries is becoming an important area for mutual investment.
Vietnamese companies are showing interest in investing capital in the agro-industrial complex and food production in Russia. To accelerate investment processes, it is planned to sign a memorandum with the Ministry of Finance of Vietnam on issues of investment cooperation.
Maxim Reshetnikov also reported that the volume of mutual trade turnover between the EAEU and Vietnam over the ten-year period of the free trade agreement has doubled. In the current year, positive momentum continues, and the trade volume has increased by another 14 percent.
Currently, Russia is increasing exports to Vietnam of goods such as food products, metals, and fertilizers.