Online forum to promote Vietnam-Russia trade in agro-fishing | Business

Processing tra fish for export in Dong Thap (Photo: VNA)

Hanoi (VNA) – A online forum promote the trade of
agro-fishing between Vietnam and Russia will take place on November 23.

Co-organized by the Vietnamese Ministry of Agriculture and Rural Development, the Russian Ministry of Agriculture, the Russian Embassy in Vietnam and the Vietnamese Embassy in Russia, the event aims to connect businesses from both countries together, towards achieving the goal of raising two way tradeat $10 billion.

Vietnam is now Russia’s largest trading partner in Southeast Asia. Bilateral trade between the two countries reached almost USD 4.5 billion per year over the period 2018-2020, of which USD 900 million came from agricultural products.

Since 2018, bilateral trade in agricultural products has increased sharply to around USD 900 million or more each year. In the first ten months of this year, Vietnam’s agro-forestry and fisheries exports to Russia reached about $469 million, up 32.6 percent annually, mainly coffee, cashew nuts , fruits, tea, wood, rice while importing aquatic products, wheat, fertilizers, wood, recently meat and dairy products.

Businesses from both countries are urged to make better use of the advantages offered by the free trade agreement between Vietnam and the Eurasian Economic Union, under which a number of agricultural products benefit from reduced tariffs amounting to zero for hundred.

The event is expected to provide a platform to showcase Russian food safety and hygiene regulations, as well as requirements for Vietnam’s fish product processing facilities for export to Russia.

Professional organizations and associations will also share their experience in agro-fishing trade and suggest measures to boost bilateral trade./.