Вопросы экономики и управления международный научный журнал 5 (07) / 2016
Trade relations between Vietnam and Russian federation
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j econ44 ch1
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- 1. Overview of Russian Federation»s economic situation
| Trade relations between Vietnam and Russian federation
Dang Cong Trang, Doctor of Science Industrial University of Ho Chi Minh City, Vietnam O n 30/01/1950, the Democratic Republic of Vietnam and Russian Soviet Federative Socialist Republic of- ficially established diplomatic relations. On 16/06/1994, Vietnam and Russian Federation entered into an Agree- ment on basic principles of friendly relations between the Socialist Republic of Vietnam and Russian Federation, which would lay groundwork and legal basis for relations in the new development stage. On 01/03/2001, Vietnam and Russia signed a Joint Declaration on strategic partner- ship relations. On 27/07/2012, Vietnam and Russia made a Joint Declaration on enhancing the comprehensive stra- tegic partnership relations more greatly. In this essay, we will mention an overview of Russian economic situation, investment situation of Russian Federation in Vietnam as well as Vietnam»s investment in Russian Federation to clarify trade relations between two countries. 1. Overview of Russian Federation»s economic situation Russia is the 9 th largest economy in the world with GDP in 2011 of 1,885 million USD (according to IMF). Russia is a member of BRICS, industrial countries with rapid growth. In the stage 2000–2008, GDP of Russia increased by 7 %/ year. Due to impact of global economic — financial crisis, GDP in 2009 decreased by 7.9 %/year, GDP in 2010 only increased by 4 %. Russian economy in 2011 grew by 4.2 %, inflation rate is 6.1 % and unemployment rate is 6.3 %. GDP structure of Russia in 2011 is as follows: agricul- ture 4.2 %, industry 37.1 % and service 58.8 %. Russia economy mainly bases on natural resources processing and exploitation with main economic sectors such as: oil and gas, mine ores, metallurgy, chemicals etc. Russia is the world»s largest crude oil production country. In 2011 Russia achieves oil output of 511.4 million tons, ranks second in gas production in the world with 670.5 billion m 3 and holds the leading position in producing steel, nonfer- rous metal, fertilizer etc. In 7 first months of 2012, GDP of Russia increased by 4.4 %; industrial production increased by 3.2 %, agricultural production increased by 2.1 %; basic investment increased by 10.2 %; inflation rate increased by 4.1 %. As anticipated, in 2012 the capital flow out of Russia is about 50 billion USD. Russia has many big groups such as Gazprom, Lukoil, Rosneft, TNK-BP (oil and gas); Norilsk Nikel, Rusal, Sev- erstal (metallurgy) etc. |