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Expo - Russia Vietnam 2019 underway

Released at: 14:27, 15/11/2019

Expo - Russia Vietnam 2019 underway

Photo: Embassy of the Russian Federation to Vietnam

Hanoi expo promoting trade and investment between two countries.

by Le Diem

Expo - Russia Vietnam 2019 is underway from November 14 to 16 at the National Exhibition Construction Center in Hanoi, with a series of activities on the sidelines expected to promote trade and investment activities between Vietnamese and Russian businesses.

First held in 2015, the biennial event is organized with support from the Ministry for Foreign Affairs of the Russian Federation, the Chamber of Commerce and Industry of the Russian Federation, ministries of the Russian Federation, and ministries of Vietnam, to promote the development of trade relations between Russia and Vietnam, diversify forms of Russian-Vietnamese economic cooperation, expand coordination in social sciences and the humanities, and stimulate Russian exports to Southeast Asia.

The event has attracted some 500 enterprises from both Russia and Vietnam in core industries such as agriculture, energy, transportation, and pharmaceuticals. It is also an occasion for Vietnamese businesses to access experience in management and modern technology from their Russian peers.

There are hundreds of booths showcasing products and services for export and investment projects and research findings of businesses, universities, and research agencies.

The expo also introduces the latest achievements in energy, machine manufacturing, transport, and telecommunications, as well as mining, the chemicals industry, healthcare, agriculture, and high-tech.

Within the framework of the expo is a series of activities such as the Vietnam-Russia Interregional Business Forum, an economic cooperation conference, and roundtables on cooperation in agriculture, energy, industry, medicine, and so on.

Since the Vietnam - Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) was signed in 2015 and came into force in 2016, bilateral trade exchange between Vietnam and Russia has posted positive growth.

In 2018, trade turnover was nearly $6.1 billion, up 16 per cent against 2017, according to the Russian Trade Office in Vietnam. Exports from Russia to Vietnam reached $2.5 billion, up 30 per cent year-on-year, while exports from Vietnam to Russia were over $3.5 billion, a year-on-year increase of 10 per cent.

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