November 13, 2026 | 13:00

Vietnam pushes EAEU pact update toward $15 billion trade with Russia

Ha Le

Vietnam has called for accelerating negotiations to amend the Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) to facilitate trade and investment, alongside expanding energy and science-technology cooperation toward a $15 billion bilateral trade target with Russia.

Vietnam pushes EAEU pact update toward $15 billion trade with Russia
Prime Minister Le Minh Hung receives Chairwoman of the Federation Council of the Federal Assembly of Russia Valentina Matviyenko in Hanoi on November 12. (Photo: VNA)

During a reception in Hanoi on November 12 for visiting Chairwoman of the Federation Council of the Federal Assembly of Russia Valentina Matviyenko, Prime Minister Le Minh Hung affirmed that the Vietnamese Government always attaches great importance to its traditional friendship and Comprehensive Strategic Partnership with Russia.

He highly appreciated the role of the Russian Federation Council and Ms. Matviyenko’s personal contributions to advancing bilateral relations.

The Prime Minister emphasized that translating high-level agreements into practical cooperation programs remains a top priority. He urged the Russian Federation Council to coordinate closely with the Vietnamese National Assembly to help both governments refine legal frameworks and resolve bottlenecks in bilateral cooperation.

On economic ties, Prime Minister Hung called on both sides to maximize existing cooperation mechanisms, facilitate trade and investment, and support enterprises in accessing markets and expanding operations.

Specifically, he expressed hope that Russia and fellow EAEU member states would swiftly launch negotiations to amend the VN-EAEU FTA to reflect emerging trade conditions, creating momentum to boost two-way Vietnam-Russia trade to $15 billion.

In the energy sector, the Vietnamese Government leader stressed maintaining effective oil and gas cooperation while advancing peaceful nuclear energy collaboration linked with safety assurance, technology transfer, and workforce training.

He also proposed strengthening ties in science, technology, innovation, and education by connecting universities, research institutes, and businesses. Furthermore, he called for expanding local-level cooperation, cultural exchange, tourism, and people-to-people diplomacy by leveraging favorable air connectivity between the two countries.

For her part, Chairwoman Valentina Matviyenko commended Vietnam’s development prospects and cooperation potential. She affirmed that the Russian Federation Council supports stronger bilateral ties and stands ready to exercise its functions to ensure the effective implementation of intergovernmental agreements.

Ms. Matviyenko expressed desire to foster direct links between Russian federal subjects and Vietnamese provinces and cities to generate new business opportunities. She also proposed continued attention to Russian language training, cultural exchanges, and tourism promotion, highlighting that generations of Vietnamese alumni who studied and worked in Russia serve as a valuable bridge for mutual understanding.

Both sides agreed to enhance coordination among governments, legislative bodies, and localities to remove specific operational hurdles and foster a favorable business environment.

The two leaders also underscored the importance of youth, scientific, and cultural exchanges, building upon recent milestones such as the Second Russia-Vietnam People’s Diplomacy Forum, and the Vietnam Cultural Festival in 2025.

Attention
The original article is written and published on VnEconomy in Vietnamese, then translated into English by Askonomy – an AI platform developed by Vietnam Economic Times/VnEconomy – and published on En-VnEconomy. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
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