Vietnam is seeking to sign an agreement with Russia on the quality of agro-forestry and seafood exports, said an official of the Ministry of Industry and Trade (MoIT) on April 21.
According to Pham Quang Niem, Head of the Russia-SNG Office under the MoIT’s European Market Department, this is part of a move to formulate a legal corridor, facilitating trade exchanges between Vietnam and Russia.
In 2009, two-way trade hit US$1.83 billion, of which Vietnam ’s exports were US$415 million, accounting for only 0.24 percent of Russia ’s import turnover.
Vietnam and Russia expect to boost their two-way trade to US$3 billion by 2012 and US$10 billion by 2020.
To this end, Niem said, the two nations need to look into an overall free trade agreement, as well as another specifically between Vietnam and the Russia-Kazakhstan-Belarus Customs Union.
In the coming time, the MoIT will accelerate trade promotion activities in Russia , including a greater presence at trade fairs and exhibitions and more business visits to the market.
In 2009, two-way trade hit US$1.83 billion, of which Vietnam ’s exports were US$415 million, accounting for only 0.24 percent of Russia ’s import turnover.
Vietnam and Russia expect to boost their two-way trade to US$3 billion by 2012 and US$10 billion by 2020.
To this end, Niem said, the two nations need to look into an overall free trade agreement, as well as another specifically between Vietnam and the Russia-Kazakhstan-Belarus Customs Union.
In the coming time, the MoIT will accelerate trade promotion activities in Russia , including a greater presence at trade fairs and exhibitions and more business visits to the market.
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