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Russia, Vietnam Should Increase Energy Cooperation - Russian Prime Minister
(c) Sputnik/ Ekaterina Shtukina
BUSINESS
10:06 05.04.2015(updated 13:07 05.04.2015) Get short URL
Prime Minister Dmitry Medvedev said that Russia and Vietnam should
search for new ways of cooperating in the energy sector.
(c) SPUTNIK/ ALEKSANDR YUREV
Vietnam Will Not Stop Russia From Using Cam Rahn Bay Base - Think Tank Head
MOSCOW (Sputnik) - Russia and Vietnam should search for new ways of
cooperating in the energy sector, Russian Prime Minister Dmitry
Medvedev said.
"Considering that we have been working together for a long time, it is
essential to look for new, promising forms of cooperation," Medvedev
said in an interview with Vietnamese media ahead of his two-day visit
to the country, starting on April 6.
Among potential areas of cooperation, the prime minister mentioned
refining, rather than solely extraction, and incentives to boost joint
work both on Vietnam's continental shelf and in Russia.
"We should use various incentivizing mechanisms, including taxes,"
Medvedev said.
(c) AP PHOTO/ 331/332-SQUADRON OF THE NORWEGIAN AIR FORCE
US Bullies Vietnam to Stop Military Cooperation With Russia
The prime minister noted that the two countries had a good history of
collaboration on offshore development, with Russia and Vietnam having
produced hundreds of millions of tonnes of oil and billions of cubic
meters of gas together.
Such results, according to Medvedev, highlighted the success of the
bilateral cooperation, which made it possible for Russia's
Zarubezhneft and Vietnam's PetroVietnam to agree to continue their
joint work until 2030.
However, Medvedev said the already established ties should not prevent
further progress, and that was why Russian energy companies, including
such giants as Rosneft and Gazprom, had partners of their own in
Vietnam.
In December 2014, Vietnamese Prime Minister Nguyen Tan Dung said the
Asian country was extremely appreciative of the Russian energy
companies' work in Vietnam and promised assistance to those businesses
willing to enter the Vietnamese market in the future.
Vietnam's potential free trade agreement with the Eurasian Economic
Union (EEU) will be the first of its kind, ensuring the Asian
country's access to a huge market, Russian Prime Minister said.
The EEU was established in May 2014 by Russia, Belarus and Kazakhstan,
with Armenia joining in October and Kyrgyzstan signing its accession
treaty in December of that year.
(c) SPUTNIK/ MIKHAIL KLIMENTIYEV
PM Medvedev Signs $100 Gas Discount to Ukraine for 2Q15
"[The free trade agreement] will likely be the first such agreement to
be signed between the Eurasian Economic Union and an individual
country. This would give Vietnam access to a huge market, which
includes not only Russia but also its partners," Medvedev said in an
interview with Vietnamese media ahead of his visit to the country on
April 6-7.
The prime minister said the potential agreement could open new ways
for cooperation, with Russia already being in final talks with
Vietnam, having made progress on many issues.
"The planned agreement would not only open the Vietnamese market to
Russian commodities, but would also give our Vietnamese partners
access to the Russian market," Medvedev said.
He added that Russia was ready to create conditions for mutual
investment, which would require extra work on the investment aspect of
the free trade agreement so that Russian companies could succeed in
the Vietnamese market.
In February, an EEU press service representative said the agreement on
the establishment of a free trade zone between Vietnam and the EEU
could be signed in the first half of 2015.
According to EEU Trade Minister Andrey Slepnev, the creation of a free
trade zone between the union and Vietnam could boost the trade between
the parties, which currently stands at $4 billion to $10 billion
within a few years, once the agreement comes into force.
There are no obstacles for Russia and Vietnam to make settlements in
national currencies but there needs to be an economic reason for doing
so, Dmitry Medvedev said.
"Using national currencies is only suitable when the volume of mutual
trade is high and you need to accumulate resources in rubles or
dongs," Medvedev said in an interview with Vietnamese media ahead of
his visit to the country on April 6-7.
According to Medvedev, so far the volume of mutual settlements between
the two countries accounts only for some 1.5 percent of total
bilateral trade, while all other settlements are made in US dollars.
The prime minister said using national currencies would be more
profitable and advantageous in trade and investment since the dollar
was a foreign currency for both Russia and Vietnam, leaving them open
to fluctuations in the exchange rate.
"I think there is a good opportunity to do this also in relations with
Vietnam," Medvedev said.
In September 2014, Russia and Vietnam discussed the issues pertaining
to the growth of bilateral trade and agreed on the necessity of
introducing a mechanism for calculating in national currency.
Total trade between Russia and Vietnam in 2013 amounted to $3.9
billion, up 8.5 percent from the same period in 2012. According to
Russian Deputy Prime Minister Igor Shuvalov, the two countries were
aiming for their trade to reach $7 billion in 2015 and $10 billion by
2020.
http://sputniknews.com/business/20150405/1020490836.html#ixzz3WQkGq14p
(c) Sputnik/ Ekaterina Shtukina
BUSINESS
10:06 05.04.2015(updated 13:07 05.04.2015) Get short URL
Prime Minister Dmitry Medvedev said that Russia and Vietnam should
search for new ways of cooperating in the energy sector.
(c) SPUTNIK/ ALEKSANDR YUREV
Vietnam Will Not Stop Russia From Using Cam Rahn Bay Base - Think Tank Head
MOSCOW (Sputnik) - Russia and Vietnam should search for new ways of
cooperating in the energy sector, Russian Prime Minister Dmitry
Medvedev said.
"Considering that we have been working together for a long time, it is
essential to look for new, promising forms of cooperation," Medvedev
said in an interview with Vietnamese media ahead of his two-day visit
to the country, starting on April 6.
Among potential areas of cooperation, the prime minister mentioned
refining, rather than solely extraction, and incentives to boost joint
work both on Vietnam's continental shelf and in Russia.
"We should use various incentivizing mechanisms, including taxes,"
Medvedev said.
(c) AP PHOTO/ 331/332-SQUADRON OF THE NORWEGIAN AIR FORCE
US Bullies Vietnam to Stop Military Cooperation With Russia
The prime minister noted that the two countries had a good history of
collaboration on offshore development, with Russia and Vietnam having
produced hundreds of millions of tonnes of oil and billions of cubic
meters of gas together.
Such results, according to Medvedev, highlighted the success of the
bilateral cooperation, which made it possible for Russia's
Zarubezhneft and Vietnam's PetroVietnam to agree to continue their
joint work until 2030.
However, Medvedev said the already established ties should not prevent
further progress, and that was why Russian energy companies, including
such giants as Rosneft and Gazprom, had partners of their own in
Vietnam.
In December 2014, Vietnamese Prime Minister Nguyen Tan Dung said the
Asian country was extremely appreciative of the Russian energy
companies' work in Vietnam and promised assistance to those businesses
willing to enter the Vietnamese market in the future.
Vietnam's potential free trade agreement with the Eurasian Economic
Union (EEU) will be the first of its kind, ensuring the Asian
country's access to a huge market, Russian Prime Minister said.
The EEU was established in May 2014 by Russia, Belarus and Kazakhstan,
with Armenia joining in October and Kyrgyzstan signing its accession
treaty in December of that year.
(c) SPUTNIK/ MIKHAIL KLIMENTIYEV
PM Medvedev Signs $100 Gas Discount to Ukraine for 2Q15
"[The free trade agreement] will likely be the first such agreement to
be signed between the Eurasian Economic Union and an individual
country. This would give Vietnam access to a huge market, which
includes not only Russia but also its partners," Medvedev said in an
interview with Vietnamese media ahead of his visit to the country on
April 6-7.
The prime minister said the potential agreement could open new ways
for cooperation, with Russia already being in final talks with
Vietnam, having made progress on many issues.
"The planned agreement would not only open the Vietnamese market to
Russian commodities, but would also give our Vietnamese partners
access to the Russian market," Medvedev said.
He added that Russia was ready to create conditions for mutual
investment, which would require extra work on the investment aspect of
the free trade agreement so that Russian companies could succeed in
the Vietnamese market.
In February, an EEU press service representative said the agreement on
the establishment of a free trade zone between Vietnam and the EEU
could be signed in the first half of 2015.
According to EEU Trade Minister Andrey Slepnev, the creation of a free
trade zone between the union and Vietnam could boost the trade between
the parties, which currently stands at $4 billion to $10 billion
within a few years, once the agreement comes into force.
There are no obstacles for Russia and Vietnam to make settlements in
national currencies but there needs to be an economic reason for doing
so, Dmitry Medvedev said.
"Using national currencies is only suitable when the volume of mutual
trade is high and you need to accumulate resources in rubles or
dongs," Medvedev said in an interview with Vietnamese media ahead of
his visit to the country on April 6-7.
According to Medvedev, so far the volume of mutual settlements between
the two countries accounts only for some 1.5 percent of total
bilateral trade, while all other settlements are made in US dollars.
The prime minister said using national currencies would be more
profitable and advantageous in trade and investment since the dollar
was a foreign currency for both Russia and Vietnam, leaving them open
to fluctuations in the exchange rate.
"I think there is a good opportunity to do this also in relations with
Vietnam," Medvedev said.
In September 2014, Russia and Vietnam discussed the issues pertaining
to the growth of bilateral trade and agreed on the necessity of
introducing a mechanism for calculating in national currency.
Total trade between Russia and Vietnam in 2013 amounted to $3.9
billion, up 8.5 percent from the same period in 2012. According to
Russian Deputy Prime Minister Igor Shuvalov, the two countries were
aiming for their trade to reach $7 billion in 2015 and $10 billion by
2020.
http://sputniknews.com/business/20150405/1020490836.html#ixzz3WQkGq14p