Vietnamese export of agricultural products to Russia is not worthy of potential

Vietnam

Russia

Published Nov 25, 2021

Tridge summary

Thanks to the long-standing relationship and great development potential between Vietnam and Russia, Deputy Minister of Agriculture and Rural Development Tran Thanh Nam committed to support and create favorable conditions for export enterprises. Import-export turnover between Vietnam and Russia has continuously increased in recent years, especially after Vietnam and the Eurasian Economic Union (EAEU) signed a Free Trade Agreement (FTA) in 2015, and Officially effective from October 5, 2016.

Original content

As a key member, the Russian market witnessed the "jump" of many Vietnamese agricultural products, coffee, cashew nuts, pepper and seafood. According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), in 2020 the bilateral agricultural trade turnover between Vietnam and Russia will reach about 880 million USD, of which the export of agricultural products from Vietnam to Russia will reach 432 million USD, an increase of 2.6% compared to 2019. In the first 10 months of 2021, the total export turnover of Vietnam's agricultural, forestry and fishery products to Russia reached about 469 million USD, up 32.6% over the same period in 2020. . Many growth statistics are positive, but Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that this is not commensurate with the economic potential, long-standing political relations between the two countries, and the total population size of 250 million ...

Source: Vinacas