Putin Begins Vietnam Visit After Historic North Korea Trip

The Russian president will meet with the country’s leadership to discuss cooperation in trade, economic relations, and various other fields

Russian President Vladimir Putin has arrived in Hanoi, Vietnam, to begin a two-day visit to the Southeast Asian nation. The trip follows his historic visit to North Korea and is part of a larger Asian tour.

Putin is scheduled to meet with Vietnamese President To Lam, Prime Minister Pham Minh Chinh, General Secretary of the Communist Party Nguyen Phu Trong, and other high-ranking officials.

Discussions will cover various aspects of the relationship between the two countries, including their economic partnership, trade, scientific and technical cooperation, and other topics. Top officials are also expected to discuss global issues.

According to President Putin, over half of all transactions between Russia and Vietnam are now conducted in their respective currencies, bypassing the US dollar and euro.

Putin made these remarks in an article for the official newspaper of the Communist Party of Vietnam, published on the Kremlin website on Wednesday, ahead of his visit to the Southeast Asian country.

Both countries are taking significant steps to enhance bilateral trade and promote investment, particularly using the Russian ruble and the Vietnamese dong, Putin noted.

“Such transactions accounted for more than 40% of bilateral trade last year, and in the first quarter of this year their share rose to almost 60%,” Putin said, adding that this trend aligns with the global shift toward phasing out the use of “widely discredited currencies” in international trade and investment.

Citing official statistics, Russia’s president stated that bilateral trade increased by 8% in 2023 and continues to grow. He also emphasized that the energy sector remains a strategically vital area of bilateral cooperation.

The Vietnam trip follows Putin’s state visit to the Democratic People’s Republic of Korea, where he was hosted by the country’s leader Kim Jong-un. During the visit, the two leaders signed a comprehensive new partnership treaty, pledging to strengthen cooperation in all areas and to defend each other against potential foreign aggression.