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Russia’s look east policy suits regional countries’ interests

Russia’s look east policy suits regional countries’ interests: Vietnam official

As a Eurasian economic powerhouse, Russia’s look east policy is in line with the interests of regional countries, including Vietnam, said a Vietnamese official at a seminar on September 4 as part of the ongoing 5th Eastern Economic Forum (EEF) in Russia.
Russia’s look east policy suits regional countries’ interests: Vietnam official
Russia’s look east policy suits regional countries’ interests: Vietnam official ảnh 1Deputy Foreign Minister To Anh Dung (centre) at the seminar (Photo: VNA)

Moscow (VNA) – As a Eurasian economicpowerhouse, Russia’s look east policy is in line with the interests of regionalcountries, including Vietnam, said a Vietnamese official at a seminar onSeptember 4 as part of the ongoing 5th Eastern Economic Forum (EEF) in Russia.

Deputy Foreign Minister To Anh Dung stated the policy, whichfocuses on promoting global integration and encouraging nations to join freetrade agreements with the Eurasian Economic Union (EAEU), reflects Russia’sefforts to boost trade liberalization, serving its social-economic developmentand at the same time being in line with regional country’s interests.

He believed Russia and its partners will obtain practicalresults in contribution to peace, stability and prosperity in the region and inthe world.

The official pointed to similarities in economic developmentdirections of Vietnam and Russia, which prioritise technological development,free trade and high-quality investment.

He highlighted the significant achievement in the twopillars of the two countries’ economic cooperation which are oil & gas –energy and trade. Bilateral oil & gas joint ventures like Vietsovpetro,Rusvietpetro, and Gazpromviet are operating effectively in the territories andcontinental shelves of Vietnam and Russia, while bilateral trade surged afterthe signing of the EAEU – Vietnam Free Trade Agreement in 2015, reaching 4.5billion USD in 2018.

He suggested both nations make oil & gas – energy atraditional and long-term strategic sector in a bid to realise their goal ofreaching 10 billion USD in bilateral trade in 2020.

Vietnam is willing to supply skilled labourers for andexport agro-forestry-fishery and consumer products to the Far East, Dungaffirmed.

In an interview with the Vietnam News Agency, AndreyBystritsky, Chairman of the Valdai Discussion Club, said Vietnam plays an importantrole in Russia’s look east policy, which benefits both sides.

The Vietnamese delegation to the 5th EEF is led by DeputyPrime Minister Trinh Dinh Dung. The forum opened in Russia’sVladivostok on September 4, drawing the participation of around 8,000 delegatesfrom more than 50 countries worldwide.-VNA
VNA

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