New impetus for Vietnam-Russia trade cooperation

Speaking at the opening session in Ho Chi Minh City on September 21, Nguyen Thi Thu Thuy, deputy director of the Trade and Investment Promotion Support Centre under the Vietnam Trade Promotion Agency, emphasised the comprehensive strategic partnership between Vietnam and Russia has continued to advance across various areas in recent years, with economic, trade and investment cooperation playing an important role.

She pointed out there remains considerable potential for further expanding bilateral trade. The implementation of the Free Trade Agreement between Vietnam and the Eurasian Economic Union has provided a favourable framework for trade, helping reduce tariff barriers and facilitate market access for goods and services from both sides.

As businesses seek to diversify markets and find new partners, direct networking programmes between Vietnamese and Russian companies can help improve the exchange of market information, deepen understanding of partners’ needs and open up new business opportunities.

Towards concrete business deals

The programme goes beyond partner-seeking, aiming to promote substantive cooperation between businesses from the two countries in areas including goods trade, production and processing, localisation, technology transfer and the development of distribution networks in each other’s markets.

Direct meetings between businesses can help shorten the process of getting to know potential partners and provide a basis for further discussions after the programme, potentially leading to specific commercial agreements.

Thuy affirmed that the Vietnam Trade Promotion Agency would continue to support Vietnamese and Russian businesses through national trade promotion programmes, trade fairs, exhibitions and business networking activities in the coming period.

With the participation of businesses from a wide range of sectors, the Vietnam-Russia Business Networking Programme provided a platform for stronger business connections, expanded cooperation opportunities and closer bilateral economic and trade ties.

Bilateral trade between Vietnam and Russia has maintained a positive growth trend in recent years. Trade turnover reached US$4.77 billion in 2025, up 4% from the previous year, with Vietnam’s exports to Russia totalling nearly US$2.26 billion and imports from Russia reaching US$2.51 billion. Vietnam mainly exports textiles and garments, coffee and seafood to Russia, while key imports include coal, fertilisers and plastic materials.

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