President hails Vietnam-Russia banking cooperation

Hanoi (VNA) - State President Nguyen Minh Triet has praised cooperation between Vietnam and Russia in banking domain, saying it would help facilitate payment transactions and credit provision for businesses of both countries.

Receiving Deputy Chairman of the Bank of Russia V. N. Melnikov in Hanoi
on Oct. 17, the Vietnamese State President stressed that Vietnam wants to
tighten relationship with Russia in all fields.

To Vietnam , Russia is a strategic partner and a faithful friend,
President Triet said.

He noted that despite a bilateral trade turnover of 1 billion USD, the two
countries' payments via banking system account for only 30 percent.

Besides, payment systems and credit institutions in the two countries have
not met the demands for financial transactions, which affects bilateral
trade, economic and investment cooperation, the President added.

Vietnam is willing to play as a bridge connecting Russian investors
and those in Southeast Asia , he stressed.

Deputy Chairman Melnikov briefed the President of the results of the
annual meeting between the State Bank of Vietnam and the Bank of Russia's
working groups.

The two sides have discussed a future cooperation plan to facilitate
bilateral economic, trade and investment relations, and reviewed the
performance of the Vietnam-Russia joint venture bank, according to the
deputy chairman.-Enditem