It was heard in a reception between Vice President Dang Thi Ngoc Thinh and Kursk Governor Alexander Mikhailov in Hanoi on December 7. The Vice Presidentexpressed that the free trade agreement between Vietnam and the Eurasian Economic Union (VN - EAEU FTA) will offer new opportunities to localities.The VN - EAEU FTA has officially taken effect since October 5, 2016.
Vice President Dang Thi Ngoc Thinh noted that trade between Vietnam and Kursk is still modest at only 2-3 million USD while trade between Vietnam-Russia currently hits 3 billion USD per year. Kursk province is strong in agriculture.
She hoped that Kursk province and the the central province of Ninh Thuan would enhance partnership in agriculture and industry. She also suggested the Kursk authorities offer further assistance to apparel joint ventures between Vietnamese companies and local partners operating in Ninh Thuan province.
For his part, Mr.Alexander Mikhailov said that he will attend business forums in Hanoi, Ho Chi Minh City and Ninh Thuan province and offer opportunities to develop economic ties between Kursk and Vietnamese localities. He also expressed Kursk province’s firms are willing to invest in Vietnam.
Vietnam has so far invested in 20 projects worth 3 billion USD in Russia while Russian businesses have poured 2.08 billion USD into 114 projects in Vietnam.
