Moscow entrepreneurs look for opportunities in Vietnam

More than 100 Vietnamese companies took part in an online business matching event with entrepreneurs from Moscow, Russia, on July 20.

The event was organised by the Moscow Export Center with the support of the Ministry of Industry and Trade of the Russian Federation and the trade mission of Russia in Vietnam.

Businesses in Moscow are interested in penetrating the markets of Southeast Asian countries and are looking for opportunities to develop business relationships with Vietnamese partners.

During the event, 20 Moscow companies working in the fields of medicine, information technology, food, construction, machinery and equipment introduced their products to Vietnamese partners.

The Russian trade mission in Vietnam noted positive growth in trade between the two countries.

The trade office identifies a number of promising industries for Russian exports to Vietnam including timber products, pharmaceuticals, meat, dairy and fish products, grain, flour and other food products.

Russia ranked first in terms of exports of pork to Vietnam in the first half of this year with 52,600 tonnes, worth 103.4 million USD.

The parties of the two countries agreed on the veterinary certificates for beef, chicken and offal, as well as pork, fish and dairy products.

In the near future, Vietnam will approve a number of enterprises producing seafood from Russian far eastern regions.

The trade office will work closely with the authorised bodies of two countries in matters of certification of Russian companies exporting their products to Vietnam.

Business matching participants will be able to hold business-to-business (B2B) meetings with manufacturers to discuss partnership opportunities from July 21 to 23.

Vietnam exported nearly 1.4 billion USD to Russia and imported 845.6 million USD in the first five months of this year. Trade surplus reached 524.9 million USD.

Top Vietnamese items exported to Russia in the five months include phones and components; computers, electronic products and components; textile and garment; shoes; coffee and vegetable and fruit.

Two groups of Russian goods exported to Vietnam worth over 100 million USD are coal of all kinds, reaching 202.6 million USD; and iron and steel of all kinds at 160.3 million USD./.