VietNamNet Bridge – A number of important agreements on strengthening cooperation have been reached during working sessions for representatives from the Vietnamese, Russian and Belarusian Chambers of Commerce and Industry.

Photo: VGP

Accompanying PM Nguyen Tan Dung’s visit to Russia and Belarus from May 12-18, Vietnam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc worked with his Russian and Belarusian counterparts, the Vietnamese Entrepreneurs in Russia and some Vietnamese businesses in Belarus.

According to the representatives, the Free Trade Agreement (FTA) between Vietnam and the Customs Union of Belarus, Kazakhstan, and Russia will add fresh impetus to boosting trade and investment for all sides.

Trade turnover between Vietnam and the three Customs Union countries will increase sharply in the future, and trade with Russia is expected to double or even triple by 2015.

The agreement will also facilitate the transition of Russian investment to Vietnam and re-exporting products to Belarus, Kazakhstan, Russia and Commonwealth of Independent States (CIS) nations. It will help expand cooperation between Vietnamese labour and the Customs Union. Through the agreement, Vietnamese businesses and workers will be able to take part in developing Russia’s Siberia and Far East.

Chamber of Commerce and Industry presidents from the three Customs Union nations agreed to establish a Business Council between Vietnam and the three countries, and formulate an action plan to ensure the effective implementation of the FTA.

The Vietnamese and Russian Chambers of Commerce and Industry support their governments’ policies on creating a program to promote comprehensive economic cooperation as well as priority projects in industry, energy, automobile manufacturing, and tourism.

They also proposed developing strategic partnerships among large economic groups and helping small and medium-sized enterprises get involved in economic links between Vietnam and the Customs Union.

In addition, they pledged to support establishing relations among vocational training centres in the two nations, as well as cooperating in technical training and technology transfers among businesses.

The chambers also agreed to continue exchanging business delegations and organizing seminars, fairs and exhibitions to increase cooperation among business associations in their respective countries.

Source: VOV