Russia's Prime Minister Dmitry Medvedev says Vietnam is close to agreeing a free trade deal with the Russian-led Eurasian Economic Union.

He predicted Monday that Russia's annual trade with Vietnam could increase by fourfold to $10 billion over the next five years.

Medvedev is on a 2-day official visit to Vietnam and held talks with his Vietnamese counterpart Nguyen Tan Dung.

Medvedev said Monday that Communist Party-ruled Vietnam is close to a trade deal with the EEU, an economic community which also includes Belarus and Kazakhstan.

Two-way trade between Vietnam and Russia was $2.5 billion last year.

The two leaders witnessed the signing of several energy cooperation agreements.