Home » Trade » Russia-Vietnam trade hits record high in 2012

Russia-Vietnam trade hits record high in 2012Two-way trade last year reached more than US$3.6 billion, a record figure so far, Russia’s ITAR-TASS news agency reported.

Of the total, Vietnamese exports rose more than 32 percent to US$2.3 billion, while Russian exports increased merely 16 percent to US$1.3 billion.

The agency said both countries maintained an upward trend in their trade exchange despite the negative impact of the global economic slowdown in 2012.

They recently agreed to implement big investment projects on a titanium slag plant, a power generator manufacturing plant, and a hotel complex in Vietnam.

In Russia they will jointly build light industry enterprises, and electronic appliances manufacturing plants, and exploit coal for export to Vietnam in the future.

ITAR-TASS reported that the 2012 trade figure excluded the value of military-technology exchange and weapon trading agreements, as well as the operational efficiency of the Vietnam-Russia oil and gas joint venture enterprise.

Last year Vietsovpetro pumped up more than 200 million tonnes of crude oil in Vietnam, and more than 2 million tonnes of crude oil in North Russia.

(VOV)

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