Facilitating Vietnam - Russia Trade in the New Perspective

Nguyen Van Hoi

     Vietnam and Russia have developed relations in all channels and fields, from party, government, and parliament channels to cooperation between localities and people-to-people diplomacy. However, bilateral trade relations are not commensurate with the overall comprehensive strategic partnership between Vietnam - Russia. The total two-way import-export turnover between Vietnam and Russia only accounts for about 0.5% of the total foreign trade turnover of each country. During the 2015-2024 period, the total two-way import-export turnover of goods between Vietnam and Russia increased by an average of 10.8% per year. However, the import-export turnover between Vietnam and Russia has increased unevenly between years. The article is conducted using the method of analysis and synthesis, qualitative research method and expert method, taking advantage of the knowledge and experience of experts on Vietnam - Russia trade facilitation. Through direct consultation and exchange with scientists, managers, and businesses in Vietnam and in Moscow and St. Petersburg, Russia, the result is the ineffectiveness of cooperation mechanisms to facilitate trade between the two countries. Vietnam and Russia are opening up a new perspective for Vietnam - Russia cooperation in the coming period. In that context, it is necessary to have solutions to enhance the facilitation of Vietnam - Russia trade. That is necessary to effectively implement bilateral agreements between Vietnam and Russia on trade facilitation; exploiting the Vietnam - Eurasian Economic Union Free Trade Agreement; signing a bilateral Free Trade Agreement; signing an Investment Promotion and Protection Agreement; adjusting the Vietnam’s Strategy for Import and Export of Goods.