(VOVworld)- The Vietnam-Russia Business Forum opened in Hanoi on Monday. In his address, the Russian Ambassador to Vietnam Andrei Kovtun highlighted the development of bilateral ties in recent years. He said Vietnam is one of priorities in Russian foreign policy in terms of politics and economics in the Asia Pacific region. He said the forum would contribute to expanding cooperation between the two countries’ businesses and enriching the comprehensive strategic partnership between Russia and Vietnam.

The Vice President of the Vietnam Chamber of Commerce and Industry Doan Duy Khuong said that the two countries are accelerating negotiations on a free trade agreement between Vietnam and the Customs Alliance of Russia, Belarus and Kazakhstan. This agreement will help realize the target of raising bilateral trade to 7 billion USD by 2015 and 10 billion USD by 2020. Khuong said:“Businesses between the two countries play an important role in raising bilateral economic and trade cooperation as well as in enhancing bilateral ties. The Vietnam Chamber of Commerce and Industry is ready to cooperate with Russia’s trade representatives and trade promotion agencies to organize bilateral exchanges. We believe that through these activities, the relationship between the two countries and the two business communities in particular will develop rapidly in the near future”.

In 2013, two-way trade between Vietnam and Russia reached nearly 4 billion USD.