Enterprises hope for more support at Russian market

Highlighted at the event were challenges involving payment measures and import-export administrative procedures. Organized ahead of the Vietnamese trade fair in Russia this mid-October, the conference helped local enterprises prepare better to penetrate the Russian market.

After a success at the Vietnamese trade fair in Russia last year, this tea processing company has shipped hundreds of tonnes of its product to the country. The owner, Mr Chu Xuan Ai, also opened a distribution company in Russia to develop his business. The enterprise representative was seeking better payment methods in ruble before taking part in this year's trade fair.

"Payments using Russian rubles and Vietnamese dong are still complicated although we and our partners have reached an agreement on the issue. Currently, the bank for Investment and Development of Vietnam (BIDV) only has a representative office in Russia. It is hard for our partners to pay us in Russian rubles", said Chu Xuan Ai - Chairman of Board of members, Thong Tu Trade & IT Development Ltd.

Costs and administrative procedures are concerns raised by the conference's participants. Nguyen Que Anh is the director of a spice export company.

"What all enterprises have to cover includes travel costs and logistic procedures. We hope to receive more support from the relevant authorities", said Nguyen Que Anh - Vice Director, Vietnamese Cinnamon & Star Anise Company.

"We are establishing a new office, however, there are too many steps to complete", said Chu Xuan Ai - Chairman of Board of members, Thong Tu Trade & IT Development Ltd.

According to the Ambassador to Russia, Nguyen Thanh Son, all the difficulties involving payment procedures have been taken into account in plans by relevant authorities. He said that Vietnamese and Russian partners would be able to pay in their own currencies soon. The ambassador cum trade fair organiser said administrative steps would soon take less time.

"Administrative mechanisms for customs, food chemical testing and quarantine procedures will be discussed to reach an agreement on authorization between both sides", said Nguyen Thanh Son - Vietnamese Ambassador to Russia.

The success of last year's Vietnamese trade fair in Russia has encouraged more Vietnamese enterprises to approach the market. With better preparation, they hope to receive fruitful results during this year's event.