Moscow’s trade with Vietnam rises 36 percent last year
Moscow’s trade with Vietnam reached 3.9 billion USD in 2021, up 36 percent from the previous year, according to statistics released by the Russian capital’s portal on March 2.
A factory of the Garment 10 Corporation in Hanoi (Photo: VNA)
Moscow (VNA) – Moscow’s trade with Vietnam reached3.9 billion USD in 2021, up 36 percent from the previous year, according tostatistics released by the Russian capital’s portal on March 2.
Moscow Deputy Mayor for economic policy Vladimir Efimovsaid his city’s non-energy and non-natural resource exports to Vietnam increased7 folds from 2020, accounting for 97 percent of the total shipments to the SoutheastAsian nation.
The non-fuel exports surged to 533.3 million USD in 2021 from76.79 million USD in 2020, with mechanical, electrical, and communicationequipment making up a large proportion.
Vietnam is one of the important partners of Russia in theAsia-Pacific, the official noted.
Alexander Prokhorov, Director of the Moscow Department for Investmentand Industrial Policy, pointed out that 93.3 percent of Moscow’s exports toVietnam is manufactured products, worth 497.76 million USD last year.
The export value of mechanical devices also shot up 21 folds to 94.53 million USD, electrical and communication equipment 7.8 to 29.05billion USD, and optical and medical products 2.5 to over 9 million USD.
The Russian capital’s agricultural exports to Vietnam have beenon the rise, up 9.1 percent year on year to 35.5 million USD in 2021, Prokhorovadded.
The portal cited experts from the Mosprom Centre at the city’sDepartment for Investment and Industrial Policy as forecasting that in the nextfive years, Vietnam will become one of the most dynamic markets in theAsia-Pacific. They also said the signing of the free trade agreement (FTA) betweenVietnam and the Eurasian Economic Union (EAEU), of which Russia is a member,has created favourable conditions for bilateral trade.
During a recent interview granted to the media, Vietnamese Ambassadorto Russia Dang Minh Khoi said the countries have recorded great strides in economic,trade, and investment links.
Five years after the Vietnam - EAEU FTA was signed, trade betweenthe two countries doubled to approximate 5 billion USD in 2020, with Vietnamposting a surplus of nearly 1 billion USD. The figure stood at 4.7 billion USDin the first nine months of 2021, rising over 16 percent year on year,according to the diplomat./.
Russian Ambassador to Vietnam Gennady Bezdetko highlighted milestones in Vietnam – Russia ties in 2021 and Vietnam’s changes after nearly four decades of renewal in an interview recently granted to Vietnam News Agency.
Veteran Vietnamese firms in the Russian market are attending the 29th International Exhibition For Food, Beverages and Food Raw Materials (PRODEXPO 2022), which runs in Moscow from February 7 to 11.
That Russia is excluded from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) will pose certain but possibly temporary difficulties for payments of Vietnam’s trade transactions, and agricultural traders will find out new payment methods soon, insiders said.
Vietnamese Ambassador to Russia Dang Minh Khoi on March 1 had a meeting with First Deputy Speaker Andrey Yatskin and Deputy Speaker Konstantin Kosachev of the Russian Federal Assembly’s Federation Council to discuss the nations’ cooperation in the current situation.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
A factory of the Garment 10 Corporation in Hanoi (Photo: VNA) 
