Vietnamese and Russian businesses encouraged to increase trade exchanges

Deputy Prime Minister Tran Luu Quang proposed Vietnamese and Russian business communities to increase trade exchanges and cooperate in priority areas such as  high-tech scientific research, renewable energy, digital transformation, green transition, and education while addressing the 27th St. Petersburg International Economic Forum, which took place  in the city of the same name of Russia on June 5-8.

He stressed that the Vietnamese government always cares for and accompanies the business community.

To enhance connectivity and economic integration among Eurasian countries, Mr. Quang proposed the development of transnational transport corridors from East to West and North to South, linking ongoing transport projects in various regions of Russia with ASEAN's connectivity plans and other regional cooperation frameworks to form new corridors connecting economic centers across the continent.

He also suggested to strengthening trade and investment cooperation to continue opening markets, expanding investments, removing barriers, and facilitating trade and travel for people and businesses, he said. Vietnam is ready to serve as a bridge to promote collaboration between the Eurasian Economic Union (EAEU) and ASEAN and hopes both sides will soon explore the feasibility of a free trade agreement, he said.

He recommended to boosting cooperation in green transition and digital transformation.

The forum drew the participation of Russian President Vladimir Putin, high-ranking leaders from several Asian, African, Middle Eastern, Latin American, and Eastern European countries, and approximately 15,000 delegates representing governments, businesses, international organizations, expert communities, and youth from over 100 countries and territories.