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Senate speaker: Russia, Vietnam can potentially boost trade turnover to $10 bln

February 22, 15:26 UTC+3 HANOI

According to the speaker of Russia’s Federation Council Valentina Matviyenko, "last year the trade turnover between the countries amounted to a modest total of $3.8 bln"

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HANOI, February 22. /TASS/. Russia and Vietnam can potentially boost the mutual trade turnover, particularly through expansion of ties between the regions, the speaker of Russia’s Federation Council (upper house of parliament) Valentina Matviyenko said Wednesday.

According to Matviyenko, "last year the trade turnover between the countries amounted to a modest total of $3.8 bln." "I expect the countries to reach the results in line with the high partnership level that they have, in the future," she said, adding that "the target for 2020 is to get to at least $10 bln as has been set by the countries’ leaders," for which "there are all possibilities and huge untapped resources."

Matviyenko urged to use the opportunities provided by the free trade zone mechanism, which was adopted for Vietnam and the Eurasian Economic Union (EAEU) last autumn. Also, she said, an exchange of delegations is required between Russia and Vietnam. The planned visit of Russia’s Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev will jump-start a regional cooperation between the countries, she added.

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