Russian businesses optimistic about trade cooperation with Vietnam

A seminar on business relations between Russia and Vietnam was held in the framework of the 7th Eastern Economic Forum (EEF) in Vladivostok city, Russia, during which participants expressed optimism about the prospect for expanding economic cooperation between the two countries.
Prime Minister Pham Minh Chinh delivers a pre-recorded speech at the Eastern Economic Forum (EEF) (Photo: VNA)
Prime Minister Pham Minh Chinh delivers a pre-recorded speech at the Eastern Economic Forum (EEF) (Photo: VNA)

Many Russian enterprises have showed their interest in the Vietnamese market, saying that they intend to boost business cooperation with Vietnamese partners.

Erkozha Akylbek, Chairman of Udokan Copper's Board of Directors and General Director of USM JSC which specialises in metallurgy and mining, said that Udokan has planned to sell its products in countries in the Asia-Pacific region such as China, India, and Vietnam.

Meanwhile, Oleg Deripaska, who owns many large Russian companies and also is Chairman of the Board of Directors of the Stolypin Institute for the Economy of Growth, said that Vietnam is one of Russia's important partners in Indo-Pacific, with diverse cooperation fields as energy, oil and gas, manufacturing and agriculture.

This is a great basis for the two sides to develop stronger economic ties in the time to come, he noted.

According to Deripaska, the scale and speed of economic development make Vietnam an attractive market for Russian products. Vietnamese businesses have many opportunities in the Russian market with highly competitive products.

For Vietnam, ensuring a sustainable supply of low-carbon raw materials is critical for its development and achieving net-zero emissions by 2050. Meanwhile, Russia is one of the world's leading suppliers of sustainable raw materials. Therefore, there is a large room for the two countries to expand cooperation.

Participant underlined the necessity to strengthen transport connectivity and simplify administrative procedures in order to make it easier for the exchange of goods between the two countries, thus further bolstering the bilateral economic ties.

VNA