During the visit, which is at the invitation of the Russian President, Dmitry Medvedev, President Triet is scheduled to work alongside Russian leaders on measures to promote the implementation of a number of high-level agreements.

In addition, a range of new agreements and deals between the two countries are expected to be inked during the visit.

Russia has a high regard of Vietnam’s position in the Asia-Pacific region, as stated in its new foreign policy.

Russia and Vietnam possess similar opinions relating to a wide range of regional and international issues. The two countries have established a close working relationship, supporting one another at a host of international forums, including the UN, APEC, ASEAN, and ARF.

The two countries established their strategic partnership during former President Vladimir Putin’s first visit to Vietnam in 2001.

The following official visit to Russia by Prime Minister Nguyen Tan Dung in September 2007 contributed significantly to speeding up the efforts to translate pre-existing high-level agreements into deeds, including the implementation of “the list of prioritised tasks to promote the Vietnam-Russia strategic partnership in 2008”.

Economic ties between Vietnam and Russia have experienced remarkable developments, with two-way trade climbing to 1 billion USD during 2007, up from 350-400 million USD in 1990.

Currently, Russia invests in 55 projects throughout Vietnam, with total capital estimated at 300 million USD. This figure is expected to increase as representatives from a number of large Russian companies are visiting Vietnam , seeking new investment opportunities.

Currently, the most profitable area of cooperation for both countries is that of oil and gas and energy.

To further support the development of this relationship, in September 2007, the two countries signed a protocol supplemented to the agreement of Vietsovpetro joint venture allowing the JV to expand its operation into Russia and other countries.

Russia continues to support Vietnam in the modernisation and construction of new energy plants in the Southeast Asian country and in cooperating efficiently in areas such as military technology, security, defence, science and technology.

It remains one of the countries that provide tertiary human resources for Vietnam, granting 250 university and post-university scholarships annually. Russia has so far received more than 5,000 self-funding students from Vietnam .

The two countries’ cooperation in culture and tourism is steadily increasing, with a host of cultural exchange activities taking place each year in both countries. In 2007, Vietnam welcomed the arrival of more than 45,000 Russian visitors, 54.8 percent more than the number in 2006.-