At a press briefing in Moscow on November 20, Vladimir Lebedev, Deputy Director of the Moscow Foreign Trade and International Relations Department highly appreciated progress Vietnamese businesses have made in implementing big projects, saying these projects brought practical benefits to both Moscow and the two big cities of Vietnam.
 
He expressed his optimism about economic ties between the two countries’ cities, saying Mayor of Moscow Yury Luzhkov will visit Hanoi and Ho Chi Minh City from November 25 to review projects that Vietnam has called for Russian investments as well as consider and adopt large-scale economic projects that are profitable for both sides.
 
Food security is one of the Russia’s concerns, particularly in the context of the current food crisis which pushed world food prices to rise swiftly. Therefore, Lebedev said, Vietnam is considered to be a reliable and constant food supplier for Russia.
 
Moscow is, in addition, interested in infrastructure and transportation projects, especially the underground tube scheme in Ho Chi Minh City.
 
During the visit, Mayor Yury Luzhkov will also discuss with Hanoi authorities about cooperation in organising culture and trade activities for the celebrations of 1,000 birth anniversary of Thang Long, Hanoi. 
 
Bilateral trade between Vietnam and Moscow reached 600 million USD in 2007, accounting for 60 percent of the total trade of the two countries, Trade Counselor of Vietnamese Embassy in Moscow Vu Trong Nghia said at the press briefing. 
 
Two-way trade between Vietnam and Russia is projected to hit 1.5 billion USD in 2008. The figure is expected to rise to 3 billion USD by 2010 and more than triple to 10 billion USD by 2020, he added.
 
Moscow mainly exports metals, fertilizer and machinery to Vietnam while importing rice, seafood, food staples from the country.