Russian President Putin to make second Viet Nam visit

Russian Federation's President Vladimir Putin

The visit, the second by President Putin, will be made when the President attends the 14th APEC Economic Leaders' Meeting in Ha Noi.

During President Putin's first visit to Viet Nam in 2001, Viet Nam and Russia defined the bilateral relationship as a strategic partnership, which is both an inheritance and the further development of the fine relationship between Viet Nam and the former Soviet Union. It is the fruit of the cooperation and unanimity between the two countries in various fields, especially international issues.

After the first Viet Nam visit by President Putin, General Secretary of the Communist Party of Viet Nam Nong Duc Manh and President Tran Duc Luong visited Russia in 2002 and 2004, respectively. The visits by the Vietnamese National Assembly Chairman and the Russian Federation Council (Senate) and Duma (Lower House) Presidents in 2003 and 2005, as well as a Viet Nam visit by Russian Prime Minister M. Fradkov in March 2006 were evidence of the constant development of the bilateral relationship.

Viet Nam also welcomed many delegations from Russian localities in 2005, such as the Governor of the Khabarov region, the President of the Tatarstan Republic, the Governor of Saint Peterburg city and the Mayor of Ekaterinburg city.

Besides political ties, the economic-commercial relations between Viet Nam and Russia also saw positive developments.

Since 2001, bilateral trade has continuously increased. In 2005, the figure hit 1.019 billion USD, passing the mark of 1 billion USD for the first time. In the first seven months of this year, two-way trade value was 570 million USD and was expected to reach 1.1 billion USD by the end of the year.

Russia now has 47 investment projects in Viet Nam with a combined registered capital of 277.9 million USD and operating capital of 617.5 million USD, ranking 22nd among 74 investors in the country.

Viet Nam has 11 investment projects in Russia with a registered capital of 38 million USD and operating capital of 2 million USD.

The two countries are expanding cooperation in oil and gas, energy, industry, agriculture, science and technology, education and training, and security and national defence.

The Russian Government grants hundreds of scholarships in graduate and post graduate training in Russia to Vietnamese students each year. The two countries also hold many cultural exchanges to boost mutual understanding.

Source: VNA