Vietnam, Russia to deepen Comprehensive Strategic Partnership, sign 11 cooperation documents

By The Investor/ Vietnam News
Thu, June 20, 2024 | 6:21 pm GMT+7

Vietnamese and Russian leaders have agreed on major strategies to further strengthen the Comprehensive Strategic Partnership between the two countries.

Vietnamese President To Lam and Russian President Vladimir Putin co-hosted a joint press conference in Hanoi announcing the outcomes of their official talks, June 20, 2024. Photo courtesy of Vietnam News Agency.

Vietnamese President To Lam and Russian President Vladimir Putin co-hosted a joint press conference in Hanoi announcing the outcomes of their official talks, June 20, 2024. Photo courtesy of Vietnam News Agency.

"On this occasion, we have adopted a joint statement on deepening the Comprehensive Strategic Partnership between our two countries," Vietnam's President To Lam told a press conference in Hanoi on Thursday announcing the outcomes of the official talks between him and Russian President Vladimir Putin.

The conference was co-hosted by Lam and President Putin who is on a two-day state visit to Vietnam at the invitation of Party General Secretary Nguyen Phu Trong.

Accordingly, the leaders agreed to enhance relations based on mutual trust, equality and non-interference in each other's internal affairs, adherence to the United Nations Charter and international law.

They pledged not to form alliances or enter into agreements with third parties that could harm each other's independence, sovereignty and fundamental interests and not to act against any third party, while supporting and contributing to regional and global peace.

On political and diplomatic fronts, both nations decided to boost political trust through increased exchanges and cooperation across various channels, including Party, state, government, parliamentary and local levels. There will be increased exchanges between generations, especially among the youth.

Economic cooperation remains a cornerstone of the Comprehensive Strategic Partnership. The two sides agreed to effectively implement and expedite negotiations to enhance the free trade agreement between Vietnam and the Eurasian Economic Union.

They aim to overcome adverse global economic challenges to strengthen bilateral trade and investment, support key energy and oil projects and facilitate the two countries' business expansion of investments, in line with national laws, and international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

The two sides also agreed to expand cooperation in new energy, clean energy, green transition and sustainable development research.

The leaders expressed a desire to enhance defence and security cooperation to address non-traditional security challenges, on the basis of international norms and laws, contributing to regional and global peace and security.

In the fields of transport, science and technology, innovation, education, vocational training and labour, both sides agreed to foster collaboration to drive economic growth.

They also underscored the need to promote cultural and artistic exchanges and people-to-people ties, especially among the younger generations.

Both nations agreed to facilitate the life, work and study of Vietnamese citizens in Russia and Russian citizens in Vietnam, helping them serve as bridges of friendship between the two countries.

On regional and international issues, Vietnam and Russia supported building a democratic, fair and transparent international relations system based on international law and the UN Charter; not using or threatening the use of force; resolving disputes peacefully; and promoting a "new, expanded, transparent, inclusive, non-discriminatory multilateral trading system."

They embraced an inclusive, undivided Asia-Pacific regional structure based on international law; and promoted economic linkages via APEC, G20, Asia-Europe economic cooperation frameworks.

Vietnam also welcomed Russia’s cooperation with the Mekong sub-region for regional and global peace, stability and prosperity.

Regarding the East Sea (internationally known as the South China Sea) issue, both sides endorsed the maintenance of maritime and overflight security and freedom, refrainment from violence or threats of violence and resolution of disputes with peaceful means in accordance with the UN Charter and international law, especially the UNCLOS 1982.

The two nations supported the full implementation of the Declaration of Conduct of Parties in the East Sea (DOC) and the negotiations towards an early, substantive and effective Code of Conduct of Parties in the East Sea (COC) in line with international law.

At the press conference, President Putin thanked Party General Secretary Nguyen Phu Trong, Vietnamese leaders and the people for their warm reception of the high-level Russian delegation.

"I emphasise that Russia values the Comprehensive Strategic Partnership with Vietnam and this relationship will continue to grow, steadfastly, on the principles of equality, mutual respect and mutual consideration of each other's interests," he said.

Reflecting on the shared history and the upcoming 75th anniversary of diplomatic relations in 2025, President Putin recalled the significant support from the Soviet Union in helping Vietnam overcome challenges and build economic, infrastructure and educational institutions. He highlighted the 30th anniversary of the Treaty on Basic Principles of Friendly Relations, saying that the treaty serves as a foundation for the bilateral relationship.

The Russian leader praised the productive talks, noting detailed discussions on key development directions and international and regional issues, with a focus on economic and trade cooperation.

President Lam stated that the meeting with President Putin took place in an open and sincere atmosphere. He emphasised the significance of President Putin’s visit, coinciding with the 30th anniversary of the Treaty on Principles of Friendly Relations between Vietnam and Russia (June 16, 1994-2024).

President Lam affirmed Vietnam's commitment to an independent, self-reliant foreign policy, multilateralism and diversification and being a reliable partner and responsible member of the international community, for the sake of peace, stability, cooperation in the world.

He said that Russia is always a "priority" in Vietnam's foreign policies, highlighting the intention to foster a long-standing traditional friendship and cooperation with Russia, recognising the historical support from the formerly Soviet Union and Russia.

The talks between President To Lam and President Vladimir Putin were deemed highly successful, covering extensive bilateral cooperation and issues of mutual interest aimed at national development and regional and global peace and cooperation.

President Putin highlighted the increasing use of local currencies in bilateral transactions, with 40% of trade in 2023 and 60% in the first quarter of 2024, facilitated by the Vietnam-Russia Joint Venture Bank, which has operated for 20 years.

He also praised energy cooperation, particularly the success of the Vietsovpetro joint venture over the past 40 years.

Prior to the press conference, the two Presidents witnessed the signing of 11 cooperation documents on education, nuclear technology research, disease prevention, oil exploration and justice.

Comments (0)
  • Read More
Thai restaurant industry grapples with crisis

Thai restaurant industry grapples with crisis

The Thai restaurant industry is grappling with a severe crisis, and more than 600,000 establishments have shuttered their doors in the past three years.

Southeast Asia - Wed, September 25, 2024 | 10:36 pm GMT+7

Indonesia inaugurates two copper smelters

Indonesia inaugurates two copper smelters

Indonesian President Joko Widodo recently inaugurated two big copper smelters which are expected to help the nation improve its global mining position.

Southeast Asia - Wed, September 25, 2024 | 10:35 pm GMT+7

Singapore’s population rises to historic high of 6.04 mln

Singapore’s population rises to historic high of 6.04 mln

As of June 2024, Singapore’s population reached 6.04 million, a 2% increase from last year, marking the first time the country’s population has exceeded six million.

Southeast Asia - Wed, September 25, 2024 | 10:30 pm GMT+7

Thai baht rises to strongest since March 2022

Thai baht rises to strongest since March 2022

The Thai baht (THB) has gained to its strongest level in 30 months as China's stimulus boosted risk assets globally, adding pressure on the Bank of Thailand (BoT) to act to curb its rally.

Southeast Asia - Wed, September 25, 2024 | 10:26 pm GMT+7

HCMC Industry 4.0 center a sci-tech platform to advance national goals: PM

HCMC Industry 4.0 center a sci-tech platform to advance national goals: PM

The Ho Chi Minh City-based Center for Industry 4.0 Revolution (C4IR), part of the World Economic Forum's global network, will contribute to Vietnam’s goal of industrialization and modernization based on scientific and technological advances, Prime Minister Pham Minh Chinh said Wednesday.

Economy - Wed, September 25, 2024 | 10:24 pm GMT+7

$67 bln trans-Vietnam high-speed railway likely to break ground in 2027

$67 bln trans-Vietnam high-speed railway likely to break ground in 2027

Vietnam hopes to break ground on the first two sections of a North-South high-speed railway route late 2027.

Economy - Wed, September 25, 2024 | 9:35 pm GMT+7

Changes in Vietnam IPOs will trigger stronger foreign capital inflows: JICA expert

Changes in Vietnam IPOs will trigger stronger foreign capital inflows: JICA expert

Kojima Kazunobu, a consultant of the Japan International Cooperation Agency (JICA), offers insights into the appetite of foreign investors, including Japanese ones, on the Vietnamese stock market, including initial public offerings (IPOs).

Finance - Wed, September 25, 2024 | 5:51 pm GMT+7

Petrovietnam, US Kellogg Brown & Root, GE to cooperate in green fuel, digitalization

Petrovietnam, US Kellogg Brown & Root, GE to cooperate in green fuel, digitalization

State-owned Petrovietnam will cooperate with American partners, Kellogg Brown & Root (KBR) and GE Digital International LLC under General Electric (GE), in digitalization and green fuels.

Companies - Wed, September 25, 2024 | 5:31 pm GMT+7

Vietnam’s Nutifood acquires 51% stake in ice cream maker Kido Foods

Vietnam’s Nutifood acquires 51% stake in ice cream maker Kido Foods

Vietnamese nutritional products maker Nutifood Nutrition Food JSC (Nutifood) has successfully acquired a 51% stake in Kido Frozen Food JSC (Kido Foods).

Companies - Wed, September 25, 2024 | 4:17 pm GMT+7

Commonwealth Bank of Australia sells 5% stake in Vietnamese bank VIB

Commonwealth Bank of Australia sells 5% stake in Vietnamese bank VIB

The Commonwealth Bank of Australia (CBA), a multinational bank headquartered in Australia, is selling a 5% stake in Vietnam International Commercial Joint Stock Bank (VIB).

Banking - Wed, September 25, 2024 | 3:29 pm GMT+7

Dragon Capital-linked team no longer major shareholder of PV Drilling

Dragon Capital-linked team no longer major shareholder of PV Drilling

A group of funds affiliated with Dragon Capital, among the largest foreign-run asset management companies in Vietnam, has reduced its holding to below 5% in PV Drilling, the drilling arm of state-owned Petrovietnam.

Finance - Wed, September 25, 2024 | 3:12 pm GMT+7

US tech firm Coherent to invest $83 mln in southern Vietnam industrial hub

US tech firm Coherent to invest $83 mln in southern Vietnam industrial hub

Coherent Corp., an American manufacturer of optical materials and semiconductors, will invest $83 million through two subsidiaries in Dong Nai province, an industrial hub in Vietnam’s southern region.

Industries - Wed, September 25, 2024 | 3:00 pm GMT+7

Malaysian currency jumps to 34-month high against USD

Malaysian currency jumps to 34-month high against USD

The Malaysian ringgit (MYR) jumped against the USD at the close on Tuesday, reaching its highest level in 34 months after China unveiled a stimulus package aimed at revitalizing its economy.

Southeast Asia - Wed, September 25, 2024 | 11:30 am GMT+7

Singapore bank UOB trims Vietnam’s 2024 growth forecast to 5.9% on typhoon Yagi

Singapore bank UOB trims Vietnam’s 2024 growth forecast to 5.9% on typhoon Yagi

Singapore-based United Overseas Bank (UOB) has revised down its GDP growth forecast for Vietnam by 0.1 percentage point to 5.9% this year due to the damage caused by super typhoon Yagi.

Economy - Wed, September 25, 2024 | 10:50 am GMT+7

ADB maintains Vietnam GDP growth projection at 6% for 2024 despite super typhoon Yagi

ADB maintains Vietnam GDP growth projection at 6% for 2024 despite super typhoon Yagi

Vietnam’s economic growth can reach 6% in 2024 and 6.2% in 2025, following a 6.4% expansion in the first half of the year, according to the Asian Development Bank (ADB).

Economy - Wed, September 25, 2024 | 10:29 am GMT+7

Vietnam a bright spot in global economy: IMF leader

Vietnam a bright spot in global economy: IMF leader

Vietnam and ASEAN are bright spots in the global economy, particularly during the tough times when the global economy is hit by a series of shocks, says the International Monetary Fund’s (IMF) managing director Kristalina Georgieva.

Economy - Wed, September 25, 2024 | 9:26 am GMT+7