The two sides confirmed their adherence to traditions of economic cooperation between Russia and Vietnam, which date back to the Soviet time – and confirmed it not only on words. The meeting resulted in signing several important treaties of economic cooperation.

Mr. Putin noted that his talks with Mr. Truong were held in a friendly atmosphere. “Historically, our two countries have always been friends,” he said.

In 2011, the trade volume between Russia and Vietnam increased by more than one quarter, reaching the level of more than $ 3 bln.

“There are grounds to hope that within the next few years it will increase 3 or 4 times,” the Russian president said.

Mr. Putin added that the cooperation between the two countries has been especially successful in the sphere of energy.

“The Russian-Vietnamese cooperation in the sphere of energy has been long and successful,” he said. “In 1981, a joint Soviet-Vietnamese venture Vietsovpetro was formed, and it is still working. It develops oil deposits in Vietnam. Recently, the Roszarubeszneft company, which is the Russian cofounder of this joint venture, von a tender for developing another oil deposit in Vietnam. Vietsovpetro is developing oil deposits not only in Vietnam, but in Russia as well – namely, in the country’s north and in the south of the Ural Mountains.”

“Russia will also take part in the construction of a nuclear power plant in Vietnam. The plant will use the most advanced technologies.”

From Sochi, the Vietnamese president will go to the Nenetsky region in Russia’s north, where he will take part in the ceremony of opening an oil-extracting plant at a place called Western Hosedayu.

Truong Tan Sang believes that the joint construction of the power plant in Vietnam is a sign that in the 21st century, Russian-Vietnamese relations are entering a new level.

In his speech at a meeting with President Putin, Mr. Truong was very eloquent in praising Russia:

“For Vietnam, cooperation with Russia in all spheres is traditionally one of the priorities,” he said. “And, we are grateful to Russia that it is ready to broadly cooperate with us too. Cooperation with Vietnam has even been mentioned in a document which outlines Russia’s foreign policy, which was recently adopted by the Russian government.”

“In the last 10 years, Russian-Vietnamese economic cooperation has been rapidly developing, to a big extent thanks to the policy held by Vladimir Putin,” the Vietnamese president said in conclusion.

Russia and Vietnam are also going to further cooperate in the spheres of science and education. Mr. Putin mentioned that more than 52,000 Vietnamese are graduates of Russian universities. It is planned to open a joint Russian-Vietnamese technological university in Vietnam’s capital Hanoi.

Another sphere of cooperation is tourism. Vietnamese beaches with its silky sand are becoming more and more popular among Russian tourists. In the first 5 months of this year, about 90,000 Russians chose Vietnam as a place to spend their vacations.