SOCHI (Sputnik) – The Russian Economic Development Ministry said Thursday it signed a memorandum on activating bilateral trade and economic cooperation with the Vietnamese Trade Ministry.
The Russian ministry said that the document’s aim is to support Russian and Vietnamese businesses in order to increase the turnout up to $10 billion by 2020 and to stimulate economic cooperation between the countries.
"Russia and Vietnam will develop cooperation in such spheres as promotion of expanding practice of using national currencies in payments of two countries, of implementing Russian-Vietnamese investment projects, of creating customs warehouses and logistic centers for transportation of export and import goods," the statement said.
It added that Russia and Vietnam agreed to expand investments between the countries.
The deal was signed on the sidelines of the Russia-ASEAN summit in the Russian resort city of Sochi that will end on Friday.
