Vietnam and Russia established a strategic partnership in 2001 and upgraded it to the level of comprehensive strategic partnership in 2012.

Bilateral trade enjoyed a strong surge as the Eurasian Economic Union (EAEU)-Vietnam Free Trade Agreement (FTA) took effect in October 2016. The effective implementation of the FTA is expected to help the two nations realise the target of 10 billion USD in two-way trade in the coming time.

Water filters manufactured by Russia-based Geyser Company are being sold in Vietnam.

In 2018, the Vietnam-Russia trade value hit 4.57 billion USD, a year-on-year jump of 28.63 percent, said Ta Hoang Linh, Director of the MoIT’s European-American Market Department.

Vietnam’s export turnover to Russia exceeded 2.44 billion USD, a rise of 12.81 percent against the same period last year, while Vietnam imported goods worth 2.1 billion USD from the European nation in the year, up 53.38 percent.

In the first four months of 2019, Vietnam-Russia trade revenues reached 1.52 billion USD, rising 5.92 percent compared to the same period last year.

Russia currently accounts for more than 90 percent of EAEU-Vietnam trade revenues. Vietnam’s major export items to Russia included electronic products, garment-textiles, footwear, aquatic products and coffee, among others.

According to the Vietnam Textile & Apparel Association, Russia is a promising market for Vietnamese garment-textile exporters. However, Vietnamese firms should conduct thorough market research to determine potential and demands of their partners, and frequently be in touch to maintain connections.

They are also advised to prepare business methods that are suitable in the modern context and work to ensure product quality and improvements, as well as brand building and trademark registration in the market.

At present, Russia ranks 24th among 129 countries and territories investing in Vietnam with 123 projects with total registered capital of over 932 million USD, mainly focusing on oil and gas, and energy industries.

Vietnam has run more than 20 projects in Russia with total capital of nearly 3 billion USD, notably TH Group’s dairy farms with registered capital of 2.7 billion USD.

Treasures of Red River Delta to go on display in Russia

An exhibition of antiques representing the different civilisations of Vietnam will be held at the Hermitage Museum in St Petersburg from May 17 to September 22.

 

Vietnamese veterans in Russia mark national reunification

The Association of Vietnamese Veterans in Russia (AVVR) held a ceremony in Moscow on April 30 to mark the 44th anniversary of southern liberation and national reunification.

 

National Reunification Day marked in Russia

The Consulate Generals of Vietnam in Russia recently held celebrations of the 44th anniversary of the Liberation of South Vietnam and National Reunification (April 30, 1975).

 

Vietnamese cuisine and culture promoted to Russian friends

A programme themed ‘Vietnamese cuisine and culture’ was held in Moscow, Russia, from April 12-14, as part of activities to celebrate the Hung Kings Temple Festival.

 

Meeting marks 88th anniversary of HCYU in Russia

A meeting marking the 88th founding anniversary of the Ho Chi Minh Communist Youth Union (HCYU) was held in Moscow, Russia on March 23. 

 

Source: VNA