VietNamNet Bridge – President Nguyen Minh Triet left Ha Noi for an official visit to the Russian Federation from October 26-29 at the invitation of Russian President Dmitry Medvedev.

The strategic partnership between the two countries was established during Russian President Vladimir Putin’s first visit to Viet Nam in 2001.

The bilateral economic and commercial ties have been blossoming over the past years. The two way trade turnover was US $1 billion in 2007, an increase of 16% in comparison with the figure in 2006, and is expected to reach US $1.6 billion this year.

There are 55 Russia-invested projects in Viet Nam, totaling US $300 million.

Viet Nam are conducting 11 projects in Russia, mainly in textiles, cooking processing and building materials.

Petroleum and energy are always traditional and effective fields of bilateral cooperation, considerably benefiting both countries. In September 2007, the two sides inked the additional protocol for the Agreement on Vietsovpetro which permits the joint-venture to expand its operation to Russia and third countries. Russia are closely working with Vietnamese partners to modernize and build energy works in Viet Nam.

The two countries have also maintained effective cooperation in such fields as military, security, science, education, culture and tourism.

Russia offers 250 scholarship to Vietnamese students every year. In 2007, Viet Nam received around 45,000 Russian visitors, 54.8% higher than that of the same period last year.

(Source: VGP)