Jul. 17 – Vietnam and Russia are cooperating on a trade website that was launched this week to increase bilateral business.

The website is a joint project between the VCCI and the Vietnamese Russian Business Council. It serves as a way for Russian businesses to familiarize themselves with the Vietnamese market and its ensuing business and trade policies.

The vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Doan Duy Khuong, told Thanh Nien News that the website also serves a dual purpose of providing information to Vietnamese firms about the market and business partners and opportunities in Russia.

Vietnam and Russia were former Cold War allies. In recent years, Vietnam has been running a trade deficit with Russia; importing natural gas and energy and relying on Russian expertise in upgrading and constructing hydro and thermal power plants.