Vietnam-Russia Trade Expected to Raise by 40 per cent-50 per cent This Yr

Vietnam-Russia Trade Expected to Raise by 40 per cent-50 per cent This Yr 27/07/2009 09:44:00 389

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Bilateral trade between Vietnam and Russia is forecast to see a sharp on-year increase between US$2.38 billion and US$2.55 billion this year, or by 40 per cent to 50 per cent, the Russian Trade Representative to Vietnam , Sergey Brighinevich, said.

 

The two nations will organize more trade promotion activities this year to accelerate bilateral trade ties, added the chief representative.

 

The Trade Promotion Department under the Vietnamese Ministry of Industry and Trade (MoIT) will organize an export exhibition in Moscow from September 15 to 17 to display a wide range of Vietnamese export products and industries, such as agro-forestry-fisheries products, apparel, consumer goods, pharmaceuticals, tourism, and trade services.

 

Meanwhile, a Russian trade delegation representing between 30 and 40 businesses in the fields of oil and gas, machinery, medical equipment, construction and hi-tech industries, will arrive in Vietnam on Oct 24 to attend Vietnam Expo 2009 in Hanoi .

 

Last year, trade between Vietnam and Russia reached US$1.7 billion, an on-year increase of 62.5 per cent. Vietnam exported US$671.9 million worth of goods to Russia , up 46.4 per cent on-year and imported US$969.6 million in goods, up 75.5 per cent.

 

The two countries plan to raise bilateral trade to US$3 billion in 2010 and US$10 billion by 2015.

 

Vietnam Economic Times