Kharinov said the Russia-Vietnam trade revenue strongly surges this year and is likely to surpass the estimate mark of USD6.2 billion.

Vietnam has become a key trade partner of Russia in Southeast Asia, which is proved through the results of the two countries’ economy-trade cooperation in 2018 (Illustrative photo: AFP/VNA)
According to statistics of the Russian side, the country’s main exports to Vietnam include foodstuff, accounting for 34 percent, followed by machinery (20.7 percent), nonferrous metal and metallic products (16.6 percent).

Wheat flour topped the lists of Russia’s exports to Vietnam for the first time, hitting USD476.9 million in the first 10 months, a rise of 2.5 times year-on-year.

Meanwhile, electronic devices, including computers, cell phones and accessories, were Vietnam’s leading export to Russia, making up 60 percent of the total export revenue.

Kharinov affirmed that Russian firms are very attentive to Vietnam’s market, voicing his belief that they will increase their presence in Vietnam over the time.

Aside from foodstuff, businesses from Russia have provided high technology solutions for Vietnamese counterparts in “smart city” building, water filter and treatment, medical equipment using nuclear technology, among others, the official noted.

He also pointed out some technical and administrative barriers, such as in animal health control and phytosanitary, to be removed to further facilitate the increase of the bilateral trade./.