The turnover of agricultural products between Russia and Vietnam has grown more than 2.5 times in five years

Published 2021년 4월 23일

Tridge summary

The article highlights the significant growth in the trade of agricultural products between Russia and Vietnam, with the five-year volume increasing by over 2.5 times. This growth is largely due to the free trade zone agreement between the EAEU and Vietnam, which has been in effect since 2016. Last year, the agricultural product turnover between the two countries grew by over 30% to $875 million, and the first quarter of this year saw an 8% increase to $213 million. The working group meeting covered various aspects of agricultural cooperation, including veterinary and phytosanitary supervision, and the forum saw the signing of a memorandum of understanding to boost food trade.

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Original content

The volume of Russian-Vietnamese commodity turnover of agricultural products over the past five years has increased more than 2.5 times. The active growth was facilitated by the agreement on a free trade zone between the EAEU and Vietnam, which has been in force since October 2016. Further development of bilateral trade, issues of veterinary and phytosanitary supervision, as well as investment cooperation in the agricultural sector were discussed at a meeting of the Russian-Vietnamese Working Group on Agriculture. The event was chaired by Deputy Minister of Agriculture of the Russian Federation Sergei Levin and Deputy Minister of Agriculture and Agrarian Development of the Socialist Republic of Vietnam Phung Duc Tien. Last year, the turnover of agricultural products and food between the countries increased by more than 30% and amounted to $ 875 million. At the same time, the export of Russian goods to Vietnam more than doubled to $ 400 million. The positive dynamics ...

Source: Mcx