Under the terms of the document signed in Ho Chi Minh City on Nov. 28, the two sides will cooperate in the supply of fish, seafood, vegetables, fruit and other food products to Moscow.

They will also regularly exchange information regarding the level of demand in the Moscow market and the supply capabilities of Navico’s subsidiary companies.

The Moscow City Food Resources Department is responsible for ensuring the provision of one-third of the total volume of food and foodstuff for Moscow, a city with a population of 13 million.

Moscow annually imports around 2,000 tonnes of fish from Vietnam and this amount is expected to increase five-fold next year following the signing of the cooperation deal with Navico.

The Russian department also wants to import rice and coffee from Vietnam, while Navico will import confectionery, processed meats and a number of agricultural products from Moscow.

Navico is a pioneer in the export of seafood products to Russia, accounting for 75 percent of Vietnam’s total annual revenue from this market, which now stands at US$200 million.