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Bilateral trade between Russia and Vietnam was up 16% in 2005 year-on-year to more than $1 billion
Bilateral trade between Russia and Vietnam was up 16% in 2005 year-on-year to more than $1 billion, Russian Trade Envoy to Vietnam Alexander Sitnikov said Wednesday. According to Sitnikov, Russian exports to Vietnam came in at $790 million, and the Asian country exported more than $240 million in goods to Russia. Russia traditionally supplies machinery and equipment, rolled metal products, non-ferrous metals and chemicals to Vietnam. Vietnam considerably expanded its exports of agricultural and food products to Russia in 2005 compared to the previous year, including upping the exports of coffee five times, seafood three times, vegetables and fruit by 50% and tea 40%. Sitnikov also said the Russian-Vietnamese joint oil venture Vietsovpetro posted good results in 2005. From 1986 to late 2005, it produced more than 150 million metric tons of crude on the southern Vietnamese shelf. Sitnikov also said cooperation between Russia's leading truck manufacturer KAMAZ and the local coal corporation Vinacoal resulted in the assembly and sale of about 600 KAMAZ trucks on the Vietnamese market. According to Sitnikov, the number of Russian tourists visiting Vietnam is on the rise. Last year, the country played host to more than 20,000 Russians tourists, according to a local tourist agency.
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