Vietnam exploring Russian market

 

Vietnam has been benefiting from the Vietnam-EAEU FTA since it took effect in 2016, which has ever since created opportunities for Vietnamese exports to the Russia – the largest market in the EAEU.

According to data from the General Department of Customs, Vietnam's export turnover of agricultural, forestry and fishery products to the Russian market in the first seven months of 2021 increased by 34.2 percent over the same period last year, reaching 323.26 million USD.

Moreover, aquatic products, agricultural products saw high growth in export turnover compared to the same period last year. However, tea, rice, wood and wooden products experienced a decrease in export turnover to the Russian market.

According to data from the Russian Customs agency, in the first six months of 2021, the country imported a total of 117,880 tonnes of coffee, up 4.8 percent over the same period last year.

In particular, Vietnam is the largest coffee supplier to Russia with 36,770 tonnes, accounting for 31.2 percent of the marketshare.

However, it is hard to find Vietnam's branded coffee on the shelves of supermarket chains in Russia because about 99 percent of Vietnamese coffee imported into Russia is raw beans.

Vietnamese businesses are urged to carefully study and take advantage of the incentives of the VN-EAEU FTA to better improve the exports to the Russian market in the near future./.