Based on official sources and documents, several Vietnamese agencies and newspapers considered it feasible to realize aspirations that both countries raised during President Nguyen Xuan Phuc’s official visit to Moscow in December 2021, where the parties agreed to multiply bilateral trade by 15 and mutual investment by three through 2030.

Vietnamese ambassador to Russia Dang Minh Khoi praised that two-way trade has grown exponentially in recent years exceeding $7 billion in 2021, with which his country rated 21 among major commercial partners of the Russian Federation.

According to the diplomat, the goal is achievable under the bilateral comprehensive strategic association and the free-trade agreement between Vietnam and Russia.

Business aside, during Xuan Phuc’s visit, Hanoi and Moscow agreed to continue high-level political talks and to strengthen defense, security and military technical cooperation on the basis of international law and for the good of peace in the region and worldwide.

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