Tapping into the Russian market
(VOV) - Russia is a potential market for Vietnamese exporters, a conference was told in Hanoi on June 20.
The Ministry of Industry and Trade (MoIT) reported that Vietnamese exports to Russia last year almost quadrupled the 2008 figure, hitting US$1.6 billion.
However, the export structure has shifted from agro-forestry and fishery products to phone handsets and their spare parts.
This is not a positive sign for Vietnam’s traditional export items, while Russia still has a large demand for these products, experts said.
MoIT statistics showed that the ratio of agro-forestry and fishery exports to total fell sharply from 50% in 2009 to 20% in 2012.
According to experts, Russia is a huge market which is in dire need of imports. From Russia, products can be re-exported to Belarus, Kazakhstan and other countries of the Commonwealth of Independent States (CIS).
Eligible items are coffee, tea, vegetables, fresh and frozen fruits, meat and meat products, and seafood.
Chu Xuan Kien, Deputy General Director of the Hanoi Trade Corporation (Hapro), said businesses find it difficult to penetrate this market, especially big supermarkets, due to fierce competition and cumbersome administrative procedures, mostly modes of payment.
La Van Chau, former trade councillor to Russia, suggested that businesses renew technology to improve product quality, promote brands, and take part in trade fairs to establish partnerships.