Trade-eco turnover between RF and SRV may double-minister.

15/9 Tass 143

MOSCOW, September 15 (Itar-Tass) -- Vietnamese Minister of Trade and
Industry Vu Huy Hoang believes that despite the world crisis, the volume
of trade and economic turnover between Russia and Vietnam may double in
the coming years.

"Prospects for development of our cooperation are great," the minister
said in an interview with Russian Business-Gazeta before the opening of
the Vietnamese national exhibition in Moscow.
"According to data at the end of 2008, the Russian Federation ranks
25th among 84 countries and regions investing in Vietnam. The question is
of 63 projects to a total sum of 427 million dollars. For comparison,
Vietnam is engaged in carrying out 14 projects in Russia with a total
volume of investments of more than 198 million dollars," the minister
said. According to him, the main share of Russia's investments - - 369
million dollars is capital investments in the creation of a joint venture
on prospecting and production of oil and gas in the continental shelf of
Vietnam's south.
"Relations between Vietnam and Russia are of strategic partnership
character and develop very dynamically. However, trade and economic
relations still don't correspond to our countries' potentials. The total
turnover over 2008 amounted to a little bit more than 1.6 billion
dollars," Vu Huy Hoang said.
-0-ast