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Medvedev to hold energy talks with Vietnamese leader

08 July 2010 23:43 (UTC +04:00)

Baku-APA. Russian President Dmitry Medvedev will discuss cooperation in oil and gas with Vietnam’s leader, a Kremlin source said on Thursday, APA reports quoting RIA Novosti.
Communist Party Central Committee Secretary General Nong Duc Manh will pay an official visit to Russia on July 8-12, on an invitation from the Russian president.
The two leaders are expected to discuss the Russian-Vietnamese joint oil venture Vietsovpetro, which has proved to be one of the largest and most effective joint ventures in Vietnam, accounting for about 65% of the country’s oil production.
Vietsovpetro, in operation from 1986, has produced over 185 million tons of crude oil, bringing a profit of some $8.1 billion to the Russian side.
"They are also expected to discuss measures to boost cooperation... in prospecting and producing natural gas," the source said.
The Russian and Vietnamese leaders will also discuss joint projects in machine building, mining and telecommunication industries.
Bilateral trade between the two states grew 8.2% last year, to $1.56 billion.
Duc Manh’s previous official visit to Russia was held in October 2002.