Russian Vice-premier To Take Part In Session Of Russian- Vietnamese Cooperation Commission

The eighth session of the Russian-Vietnamese intergovernmental commission for trade, economic, scientific and technological cooperation will be held in Hanoi January 18-20. The session will be attended from the Russian side by vice-premier Viktor Khristenko, heads of the leading ministries and departments and representatives of the organisations cooperating with Vietnam in trade and economic sphere. The sides will discuss prospects for cooperation in the oil-and-gas sector, oil-refining and coal industries, energy sector, agro-industrial complex, and other sectors. According to preliminary estimates, the bilateral trade turnover in 2001 will amount to USD 500-550 million, an increase of 20-30 percent on the previous year. Russia exports mainly raw and production-purpose materials, as well as energy and oil-extracting equipment and motor vehicles. Products of tropical agriculture, textile items and foodstuffs dominate Vietnamese exports. Major hydropower projects, i.e. construction of Ya Ly and Dami hydropower stations, as well as construction of the first oil-refinery in Central Vietnam are being implemented with Russia's involvement. The terms of Russia's participation in other projects of Vietnamese fuel and energy complex are being discussed.