Russia and Vietnam to Join Hands in Nuclear Energy Projects

Russia and Vietnam have agreed to expand bilateral cooperation in the energy sector, including in nuclear power, the two country's presidents announced in a joint statement in Hanoi on Thursday.

"Strengthening a comprehensive strategic partnership with Vietnam remains one of our priorities," Russian President Vladimir Putin said following his talks with his Vietnamese counterpart To Lam.

In addition, the two nations agreed to set up a Center for Nuclear Medicine and Technology, work on which will begin later this year.

This development was confirmed by Alexey Likhachev, the chief of Russia's state-run nuclear energy corporation Rosatom, following the two nations' leaders meeting.

"We are at the first stage of implementing the Center for Nuclear Medicine and Technology project. The center will be one of the most notable in terms of its competencies, powerful research centers. We will get to the practical side this year," Likhachev told the media.

Besides, strengthening their relationship in the civilian nuclear sector, Putin emphasised having a robust trade relationship between Russia and Vietnam with a special focus on transactions in national currencies.

The Russian president noted that bilateral trade grew by 8% in 2023.

"It is equally important that our countries are consistently switching to national currencies in mutual financial settlements, striving to build sustainable channels of credit and banking cooperation," he underlined.

According to him, the commerce growth is facilitated by the implementation of the 2015 free trade agreement between the Eurasian Economic Union and Vietnam.

Among other things that were deliberated during the discussions between Putin and Lam was the development of the Vladivostok-Ho Chi Minh City maritime transport corridor.

The Russian leader described the project as up-and-coming.

"Cooperation on a large-scale infrastructure project, the Vladivostok-Ho Chi Minh maritime transport corridor, seems promising," the Russian president stressed.

The other highlight of the meeting between the two leaders was Lam seconding Putin's thoughts about the non-entry of countries into alliances with nations that have no locus standi in the region.

For example, the US has no stakes in Vietnam's neighbourhood as if it has none in the Eastern European region of which Ukraine is a part.

"[Vietnam and Russia agreed not to] enter into alliances and treaties with third countries in order to harm each other’s independence, sovereignty and territorial integrity," Lam affirmed.

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