Medvedev Says Time for Russia, Vietnam to Use National Currencies in Trade

© Dmitry Astakhov / Go to the mediabankRussian Prime Minister Dmitry Medvedev pays official visit to Vietnam. Day Two
Russian Prime Minister Dmitry Medvedev pays official visit to Vietnam. Day Two - Sputnik International
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Russian Prime Minister Dmitry Medvedev said that Russia and Vietnam should consider using national currencies instead of dollars in trade.

Prime Minister Dmitry Medvedev on official visit to Vietnam - Sputnik International
Vietnam to Join Free Trade Area with Russian-led Economic Bloc
HO CHI MINH CITY, April 7 (Sputnik) – Russia and Vietnam should consider using national currencies instead of dollars in trade, Russian Prime Minister Dmitry Medvedev said Tuesday.

“Obviously we need to think about using non-standard forms of cooperation and finances, including, for example, using national currencies for accounting, that is using rubles and dongs,” Medvedev said during a meeting with businessmen in Vietnam’s largest city of Ho Chi Minh City, formerly Saigon.

On Monday, Medvedev, currently on a two-day visit to Vietnam, said there were no obstacles for the two countries to make settlements in national currencies.

During the first day of the Russian prime minister's visit, the countries signed agreements on energy cooperation, including nuclear energy. Hanoi also announced plans to sign an agreement on a free trade zone with the Eurasian Economic Union by the end of 2015.

In September 2014, Russia and Vietnam discussed the growth of bilateral trade and agreed on the necessity of introducing a mechanism for calculating in national currencies.

Russia would like to create a joint automobile manufacturer with Vietnam in the near future, Russian Prime Minister Dmitry Medvedev said Tuesday.

"I hope that in the near future a joint enterprise in the industrial construction of Russian automobiles and other vehicles will appear in Vietnam," Medvedev said during a meeting with businessmen in Vietnam's largest city of Ho Chi Minh City, formerly Saigon.

Earlier in the day, the prime minister said Russia and Vietnam should consider using national currencies instead of dollars in trade.

On Monday, the first day of a two-day visit by Medvedev to Vietnam, the countries agreed on 17 joint investment projects worth over $20 billion. The projects mostly cover energy deals and include nuclear power as well as oil and gas.

Hanoi also announced plans to sign an agreement on a free trade zone with the Russia-led Eurasian Economic Union by the end of 2015.

Russia would like to create a joint automobile manufacturer with Vietnam in the near future, Russian Prime Minister said.

"I hope that in the near future a joint enterprise in the industrial construction of Russian automobiles and other vehicles will appear in Vietnam," Medvedev said during a meeting with businessmen in Vietnam's largest city of Ho Chi Minh City, formerly Saigon.

Earlier in the day, the prime minister said Russia and Vietnam should consider using national currencies instead of dollars in trade.

On Monday, the first day of a two-day visit by Medvedev to Vietnam, the countries agreed on 17 joint investment projects worth over $20 billion. The projects mostly cover energy deals and include nuclear power as well as oil and gas.

Hanoi also announced plans to sign an agreement on a free trade zone with the Russia-led Eurasian Economic Union by the end of 2015.

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