(VOVworld) - A seminar to promote trade and investment between Hanoi and Moscow was held in Hanoi on Friday. Two-way trade between Vietnam and Russia reached 2.1 billion USD last year’s , the first year Vietnam saw an export surplus to the Russian market. The figure in the first three months of this year stood 519 million USD, a year-on-year rise of 20 percent. However, experts say bilateral trade and economic ties remain do not match their potential. Vietnam aims to increase trade turnover to 3 billion USD this year and 10 billion USD by 2020. Pham Gia Tuc, Vice President of Vietnam Chamber of Commerce and Industry suggests that proper policies should be adopted in the coming time: “The governments of both countries need to sign legal documents soon to create legal corridor for business operation, including those related to the FTA between Vietnam and Russia. Trade promotion and investment should be accelerated, while boosting cooperation in such areas as oil and gas and nuclear energy. Legal assistance is needed for Vietnamese doing business in Russia”.  

At the seminar, participants were briefed about the Hanoi-Moscow Trade and Culture Centre complex in Moscow. The 200 million USD cooperation project between the two cities is expected to be completed by May 2013.