Amid shifting global dynamics, a Hanoi forum will explore how Southeast Asia, emerging economies, and Russia can boost cooperation in trade, energy, and sustainable development.
Export turnover to Russia is showing signs of recovery after a sharp decline of 85 per cent year-on-year was posted last March. Russian businesses have recently shown interest in promoting trade and investment cooperation with Vietnam.
The Vietnam Association of Seafood Exporters and Producers (VASEP) has reported that seafood export turnover to Russia in August stood at nearly $25 million, a 98 per cent increase over the same period last year. As of the end of August, Vietnam’s seafood exports to Russia this year totaled over $94 million, down 20 per cent year-on-year. Pangasius is the leading product, accounting for 22 per cent of turnover to Russia in the first eight months, or nearly $21 million.
Figures from the General Department of Customs show that total two-way trade turnover between Vietnam and Russia reached $2 billion in the first half of 2022, down 18.6 per cent. The Russia - Ukraine conflict has had a negative impact on Vietnam’s exports to Russia, with many exporters facing major problems. Some said they left export orders to the country unfilled over concerns about transportation and payment.