“Russian corporations want not only to maintain business relationships with Vietnamese partners but also to further extend such ties,” said Andrey Kostin, president of Vneshtorgbank (VTB), who also serves as the delegation leader. The Russian delegation was received by Triet at the Reunification Palace in HCMC.

VTB as the second largest bank in Russia has cooperated with the Bank of Investment and Development of Vietnam to establish the Vietnam-Russia Joint Venture Bank in 2006 on a 51-59 footing. These two banks, together with the Russian company RosoboronExport are mandated by the two governments to promote trade between the two countries.

Another popular name in the delegation was the Russian state-run oil company of JSC Zarubezhneft, whose general director Nikolai Brunhich told President Triet that oil and gas cooperation would be further expanded. He said that Vietsovpetro, a joint-venture with PetroVietnam, would expand operations not only to Russia but also to other countries.

Meanwhile, JSC Kamaz general director Sergei Kogogin unveiled that the largest auto manufacturer in Russia would not limit its Vietnam business to the assembly of many kinds of trucks, but would start investing in after-sales services to further penetrate the Vietnamese market.

Dod Evgheniy, chairman of the energy company Inter RAO UES, expressed his interest in the energy sector in Vietnam, especially hydroelectric and thermo-electric plants.

In his response, President Triet said, “Vietnam is ready to support Russian corporations to enter Southeast Asian markets.”

Triet also said he expected relations between the two countries would be strongly promoted during the forthcoming visits to Russia by Party chief Nong Duc Manh and Prime Minister Nguyen Tan Dung, as well as during next year’s visit to Vietnam by Russian President Dmitry Medvedev.