Vietnamese, Russian firms seek to foster trade ties

Andrey Naryshkin, director for international development at the Russian Export Centre, said that Vietnam is a strategic market in Russia’s plan to expand exports in Southeast Asia thanks to the long-standing cooperation between the two countries.

He noted that bilateral trade relations have seen great progress since a free trade agreement between Vietnam and the Eurasian Economic Union came into force.

In 2018, trade between Vietnam and Russia reached US$6 billion, adding that Vietnam, with high demand for products serving production and consumption, is a promising market for Russia.

Naryshkin said the Russian Export Centre will support Russian companies increase their exports to Vietnam, while encouraging Vietnamese companies and investors to seek opportunities in Russia, to help bring bilateral trade to US$10 billion in the near future.

At the event, Vietnamese firms recognized good quality of Russian products. However, they suggested that Russian exporters should pay greater attention to packaging, while adding label in Vietnamese to meet the demand of local consumers.