Vietnamese firms seek to promote farm produce export to Russia, EAEU

A workshop discussing opportunities for Vietnamese businesses to increase export of agricultural and aquatic products to Russia and the Eurasian Economic Union (EAEU) was held on November 2 in Hanoi.

In his opening remarks, Nguyen Tuan Hai, Director of the International Relations Department of the Vietnam Chamber of Commerce and Industry (VCCI) said the fruitful political and diplomatic relations between Vietnam and Russia will be a foundation and favourable condition for economic, trade and investment relations between the two countries to develop strongly in the coming time. 

Since the Vietnam - EAEU Free Trade Agreement (Vietnam-EAEU FTA) officially entered into force in October 2016, the deal has become a solid foundation for trade and investment cooperation between the two countries, he said, adding that this pact also serves as an effective tool and good support for Vietnamese enterprises to promote the export of their strong products, especially agricultural and aquatic products to the Russian market, as well the EAEU.

Tsygankov Kirill from the Russian trade representative office in Vietnam said that economic and trade cooperation is an important factor in the comprehensive strategic partnership between Russia and Vietnam, noting that since the Vietnam - EAEU FTA took effect in 2016, 98% of tariff lines have been cut to zero percent.

He spoke highly of the prospect of Vietnam's fresh fruit export to Russia, as the Southeast Asian country boasts a variety of fresh tropical fruits and nutritious vegetables.

He recommended that Vietnamese businesses transport goods to Russia by rail, saying that Russia's railway company and Vietnam's Railway Transport and Trade JSC (RATRACO) have successfully tested a container train connecting Vietnam and Russia via China's territory, which took around 2-3 weeks.

For high-value and perishable goods, air freight may be considered, he said.

In the future, if the exchange of goods increases between the two countries, it is necessary to organize direct transport of goods by sea without having to transit in ports in Hong Kong (China) or China and the Republic of Korea, in order to significantly shorten the time of goods transportation, he said.

Kirill advised Vietnamese enterprises to be more active in promoting their goods in the Russian market through e-commerce platforms.