Russian PM’s visit to lift Vietnam-Russia relations

Russian Prime Minister Mikhail Vladimirovich Mishustin will pay an official visit to Vietnam from January 14-15, over six months after the state visit by President Vladimir Vladimirovich Putin.

The visit, the first to Vietnam by Mishustin as Prime Minister of Russia, will take place as the two countries celebrate the 75th anniversary of their diplomatic relations.

Vietnam and the former Soviet Union established diplomatic relations on January 30, 1950. After more than 70 years with constant efforts from the generations of leaders and people of both countries, the two nations have made giant steps on their path of cooperation for mutual development, according to the Vietnamese government's news portal.

In 1994, Vietnam and Russia signed the Treaty on Principles of Friendly Relations, which laid the groundwork and legal basis for the bilateral relationship in new period.

The two countries upgraded their ties to a strategic partnership in 2001 and to a comprehensive strategic partnership in 2012. In 2021, the two issued a Joint Statement on 2030 Vision for Development of the Comprehensive Strategic Partnership.

During President Putin’s state visit in June 2024, Vietnam and Russia issued a Joint Statement affirming that the two countries will continuously strengthen their comprehensive strategic partnership based on friendship and mutual support amidst a complex international landscape.

Both sides agreed to strengthen cooperation in the fields of economy, trade, security-defense, especially in infrastructure and energy. The visit witnessed the signing of 15 cooperation agreements in various areas.

Two-way trade reached $4.15 billion in the 11 months of 2024, with Russia’s exports to Vietnam reaching $2.03 billion and imports $2.12 billion, according to Vietnam Customs.

Regarding investment, Russia had 186 investment projects in Vietnam, with total registered capital of $984.98 million as of April 2024, ranking 28th among the countries and territories investing in Vietnam.

Russian investment projects cover oil and gas, mining, processing industries, and manufacturing in 21 localities.

Vietnam has 18 investment projects in Russia, with total registered capital of $1.63 billion.