Russian economic forum seeks to bolster Asia-Pacific trade

Nguyen Van Binh, head of the Vietnam Party Central Committee's Commission for Economic Affairs

Over the past three years, the Russian Far East region passed 19 federal laws, issued 72 government decrees and created four development institutions aimed at enhancing its investment attractiveness, Trutnev said in a keynote speech at the opening ceremony.

To date, Trutnev continued, 837 investment joint ventures with foreign multinational companies have been formed in the region which boasts rich natural resources including oil, gas, portable water, diamond and forest reserves as well as unique logistic conditions.

Nguyen Van Binh, head of the Vietnam Party Central Committee's Commission for Economic Affairs, in turn spoke about the attractiveness of the Russian Far East, describing it as a magnet attracting commercial trade and investment from around the globe.

Under a comprehensive and strategic partnership developed in 2012, the combined imports and exports of Vietnam with Russia reached a record high US$2.6 billion last year, he told the audience at the opening ceremony.

Mr Binh affirmed in his opening address that the Vietnam government would do its best to continue to cultivate commercial trade and economic ties between the two countries’ economies, thereby contributing to their prosperity as well as peace and stability in the world.

This year, more than 700 business representatives from 55 countries including Vietnam, China, India, Japan, Australia, Canada, the US and Britain were present at opening day of the forum.