Vietnamese, Russian firms seek to foster trade ties
Vietnam and Russia boast a lot of potential for stronger trade cooperation in various areas, especially agriculture and technology, heard participants at the Vietnam-Russia trade exchange programme in Ho Chi Minh City on September 17.
Andrey Naryshkin, director for international development at the Russian Export Centre speaks at the event (Photo: VNA)
HCM City (VNA) – Vietnamand Russia boast a lot of potential for stronger trade cooperation in variousareas, especially agriculture and technology, heard participants at theVietnam-Russia trade exchange programme in Ho Chi Minh City on September 17.
Andrey Naryshkin, director forinternational development at the Russian Export Centre, said that Vietnam is astrategic market in Russia’s plan to expand exports in Southeast Asia thanks tothe long-standing cooperation between the two countries.
He noted that bilateral traderelations have seen great progress since a free trade agreement between Vietnamand the Eurasian Economic Union came into force.
In 2018, trade between Vietnamand Russia reached 6 billion USD, adding that Vietnam, with high demand forproducts serving production and consumption, is a promising market for Russia.
Naryshkinsaid the Russian ExportCentre will support Russian companies increase their exports to Vietnam, whileencouraging Vietnamese companies and investors to seek opportunities in Russia, to help bringbilateral trade to 10 billion USD in the near future.
At the event, Vietnamese firmsrecognized good quality of Russian products. However, they suggested thatRussian exporters should pay greater attention to packaging, while adding labelin Vietnamese to meet the demand of local consumers./.
The National Assembly’s Committee for External Relations held a seminar in Hanoi on August 22 to review the implementation of international treaties signed by Vietnam and Russia during the 2001 – 2018 period.
Deputy Prime Minister Trinh Dinh Dung and his Russian counterpart Maxim Akimov agreed that oil and gas cooperation bears strategic significance to Vietnam – Russia relations at their meeting on September 5 on the sidelines of the ongoing 5th Eastern Economic Forum (EEF).
The Vietnam-Russia oil and gas joint venture Vietsovpetro raked in about 1.28 billion USD from oil sales in the first eight months of 2019, 19.4 percent more than its plan.
Businesses from Vietnam and Russia exchanged information and introduced their products at a seminar held in the Russian oblast of Ivanovo on September 12-13.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Andrey Naryshkin, director for international development at the Russian Export Centre speaks at the event (Photo: VNA) 
