In 2004, the bilateral trade turnover increased by 36%, to $886 million. The intergovernmental commission coordinated a plan of measures aimed at improving the quality of trade and economic cooperation, primarily, the diversification of the structure of trade through increasing a share of manufactured and science-intensive products in it and developing investment cooperation, the MERT reports.
"The Vietnamese side declared that it was interested in Russian organizations' participation in the building of the Shonla hydropower station, the largest in the region (4 power units of 600 megawatt each), the development of the Thach Khe iron-ore deposit, the joint development and production of power equipment, production cooperation in assembling automobiles of the KAMAZ and UAZ families, and the construction of subway in Hanoi and Ho Chi Minh," the press release reads.
"The Russian side pointed out that the Russian government might examine financial support for Russian companies' participation in the Shonla project and in other major projects in Vietnam," the press release continues.
Russia is interested in expanding cooperation in the sphere of nuclear power engineering and the creation of the satellite communications system in Vietnam, as well as in promoting Russian civilian aircraft in the Vietnamese market.
The sides reached an agreement to hold a working meeting of co-chairmen of the intergovernmental commission, i.e., Viktor Khristenko, Russia's industry and energy minister, and Hoang Trung Hai, his Vietnamese counterpart, at the end of this year.
