The visit takes place in the context of the two countries just marking the 70th anniversary of bilateral diplomatic ties in 2020 and two decades of strategic partnership in 2021 with a range of pragmatic activities. They are also actively preparing for the 10th anniversary of comprehensive strategic partnership.
The bilateral political relationship has been continuously consolidated, reflected through the regular exchange of high-level delegations.
Economic and trade cooperation between the two countries has also been developed dynamically in recent years. Two-way trade reached 4.85 billion USD in 2020, up 9 percent year-on-year. It hit 3.6 billion USD in the first nine months of this year, up 5 percent against the same period of 2020.
As of April 2021, Russian had ranked 25th among countries and territories investing in Vietnam with 144 projects worth 944 million USD. Meanwhile, Vietnam had invested in over 20 projects worth nearly 3 billion USD in Russia.
Earlier, President Phuc paid an official visit to Switzerland from November 25-29 at the invitation of Swiss President Guy Parmelin.
