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Vietnam-Russia trade turover to reach over $2 billion in 2012

February 20, 2012, 11:35 UTC+3

Vietnam is interested in the creation of a Vietnamese-Russian free trade zone

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HANOI, February 20 (Itar-Tass) —— Trade turnover between Vietnam and Russia, which amounted to 1.5 billion dollars in 2011, will grow up to the level of 2.5 billion dollars this year, trade advisor at the Vietnamese embassy in Russia Wu Van Quang said in an interview with the business weekly Thoi Bao Kinh te Viet Nam.

Due to the fact that Russia recognized Vietnam as a market economy country, import duties on Vietnamese goods supplied to the Russian market will reduce this year by 3-5 percent on average. According to the expert, this gives all grounds to suppose that the volume of mutual trade this year will reach 2.5 billion dollars and exceed the level of 3 billion dollars in 2013.

Vietnam mainly exports household electronics and seafood products to Russia.

To further successfully advance bilateral trade and economic ties, Vietnam and Russia, according to the trade advisor, should intensify the process of negotiations on creation of a Vietnamese-Russian free trade zone. The availability of such an agreement, as Wu Van Quang noted, will become an effective instrument for expansion of economic partnership ties between Hanoi and Moscow, as well as larger scale cooperation within the framework of Customs Union of Russia, Belarus and Kazakhstan.


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