Hanoi (VNA) – With a wide and diverse retailsector, Russia has been considered a promising market for agro-forestry-fisheryproducts of Vietnam.
Statistics showed that in 2019, Russia spent over 5 billionUSD on importing fresh fruits, along with 1.3-1.5 billion USD on processedvegetable, fruits and nuts, more than 2 billion USD on meat, over 2.4 billionUSD on fisheries products.
Many Vietnamese products are Russians’ favourite, especiallywooden furniture and farm produce. The market also has high demand for tropicalvegetables and fruit.
In the first two months of 2020, Vietnam earned 8.2 millionUSD from exporting vegetables and fruit to Russia, up 246.1 percent year onyear, including 6.7 million USD of processed products, a rise of 293.5 percentover the same period last year.
At the same time, Vietnam is Russia’s top supplier of coffeein 2019, with 154.3 million USD, making up 24.5 percent of the country’s totalspending on the product.
According to the General Department of Vietnam Customs, inthe first two months of 2020, export revenue of Vietnam’s afro-forestry-fisheriesproducts to Russia reached 68.5 million USD, up 0.3 percent year on year, withsharp a rise seen in exports of vegetables, fruit, rice, and peppercorn.
Deputy Minister of Agriculture and Rural Development PhungDuc Tien advised businesses to focus more on the Russian market to make fulluse of the market potential and the sound strategic partnership between the twocountries.
He said that the ministry has directed relevant agencies toguide and support enterprises in administrative procedures in line withrequirements of importers.
However, he pointed out that exports to Russia only accountfor about 1.6 percent of Vietnam’ total exports of agricultural products. Henoted that although many Vietnamese products meet requirements of the Russianmarket, but they face barriers in export procedures.
Specifically, Vietnamese products have been charged with hightax rate in the market, and high logistics cost has also impacted competitivenessof the products. Technical barriers, currency exchange and low level ofproducts’ processing have also been obstacles of Vietnam.
Experts held that in order to increase exports to Russia,Vietnam should promote the processing industry. Meanwhile, State agencies andbusinesses should work more closely together, with more support from the Statein policy.
They advised businesses to stay active in giving proposalsand voicing their needs to State agencies./.
Vietnam always welcomes and wishes to receive investments from Russia, especially in the fields of energy, oil and gas exploitation and refinery, industrial equipment and auto manufacturing, President Tran Dai Quang has said.
Vietnamese businesses are striving to promote agricultural and aquatic products in the Russia market at an international food fair and trade connection activities being held in Moscow, Russia.
Prime Minister Nguyen Xuan Phuc highlighted cooperation opportunities for Vietnam and Russia to boost trade and investment ties at a reception in Hanoi on December 24 for Chairman of the State Duma of the Federal Assembly of the Russian Federation Vyacheslav Viktorovich Volodin.
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Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
Illustrative image (Source: VNA) 
