Russian entrepreneurs operating in electrical and security equipment production and construction came into contact with their Vietnamese partners in Ho Chi Minh City on October 24 in a bid to increase trade partnerships.
Crude oil exploitation at the Bach Ho field. (Photo for illustraion)

The exchange was held by the HCM City branch of the Vietnam Chamber of Commerce and Industry (VCCI) and the Russian Centre for Science and Culture in Vietnam.

Dmitry Pankov, head of the Russian business delegation, said the two countries have connected their business circles through a number of contacts in recent years, with fruitful joint projects in high technology, manufacturing, and oil and gas at both State and business levels.

The delegation’s visit was aimed at conducting market and business climate surveys and seeking Vietnamese partners to foster cooperation in goods distribution, he added.

Nguyen The Hung, Deputy Director of VCCI HCM City, said Vietnam boasts strength in producing tropical food while Russia holds advantages in machinery, metallurgical equipment, fertilizer, and oil and gas.

He urged businesses to jointly utilise such strength to improve their products’ competitive edge.

During the first three quarters of 2014, two-way trade between Vietnam and Russia topped 1.8 billion USD, including more than 1.1 billion USD worth of Vietnamese exports.

Source: VNA