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    Home > Food News > Food Articles > Vietnam makes full use of the FTA agreement to promote agricultural exports to Russia

    Vietnam makes full use of the FTA agreement to promote agricultural exports to Russia

    • Last Update: 2021-07-30
    • Source: Internet
    • Author: User
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       Vietnam's "Vietnam+" reported on July 27 that Russia is a potential market for Vietnamese agricultural products
    .
    Vietnamese companies can use the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU) to promote agricultural
    exports to Russia
    .
     
      In the first May of 2021, Vietnam’s exports of aquatic products to Russia reached 21,300 tons, and the export value reached US$72.
    2 million, an increase of 72% and 60.
    4% year-on-year respectively

    .
     
      Among them, frozen shrimp products accounted for the largest proportion, accounting for 25% of the total aquatic products exported to Russia.
    The export volume was 2010 tons, an increase of 69.
    6% year-on-year; the export value was US$18.
    4 million, an increase of 72.
    9% year-on-year; the export volume of frozen fish The export volume increased by 134.
    7%, the export value increased by 124.
    6%; the export volume of frozen octopus increased by 152.
    8%, and the export value increased by 170.
    3%

    .
     
      Despite the impact of the new crown pneumonia epidemic, in 2020, Vietnam's export of fruits and vegetables to Russia will still reach 54.
    4 million U.
    S.
    dollars, a year-on-year increase of 58.
    7%

    .
    In the first four months of 2021, Vietnam's export of fruits and vegetables to Russia was US$26.
    2 million, a year-on-year increase of 32.
    4%

    .
     
      According to the Import and Export Bureau of Vietnam’s Ministry of Industry and Trade, Russia has been Vietnam’s traditional export market since the 1990s, with the main export products being coffee, pepper, tea, fruits and vegetables, and rice
    .
     
      Vietnam has signed a free trade agreement with the Eurasian Economic Union
    .
    According to the agreement, import tariffs on nearly 90% of the tax items have been cancelled or significantly reduced

    .
    This is a golden opportunity for Vietnamese export companies, especially agricultural export companies, to open up the Russian market

    .
    Since the agreement came into effect in 2016, Vietnam’s exports of fruits and vegetables to Russia have grown by an average of 20% per year

    .
     
      However, industry experts believe that the export of Vietnamese agricultural products to Russia still faces some difficulties and challenges
    .
    Vietnam's shrimp export prices are relatively high, which affects competitiveness and market share

    .
    For fish hunting, Russia was originally the traditional market for fish hunting in Vietnam, but due to policy mechanism issues, this market lacks stability and so on

    .
     
      In order to expand the market share in Russia and the Eurasian Economic Union, experts suggest that Vietnamese companies should update the information about the EAEU market in a timely manner
    .
    At the same time, it focuses on improving product quality, maintaining corporate reputation and image, promoting the export of processed agricultural products, and enriching the types of fresh fruit exports to minimize transportation and preservation costs, thereby improving product competitiveness

    .
    Agricultural exports
     
      In the first May of 2021, Vietnam’s exports of aquatic products to Russia reached 21,300 tons, and the export value reached US$72.
    2 million, an increase of 72% and 60.
    4% year-on-year respectively

    .
     
      Among them, frozen shrimp products accounted for the largest proportion, accounting for 25% of the total aquatic products exported to Russia.
    The export volume was 2010 tons, an increase of 69.
    6% year-on-year; the export value was US$18.
    4 million, an increase of 72.
    9% year-on-year; the export volume of frozen fish The export volume increased by 134.
    7%, the export value increased by 124.
    6%; the export volume of frozen octopus increased by 152.
    8%, and the export value increased by 170.
    3%

    .
     
      Despite the impact of the new crown pneumonia epidemic, in 2020, Vietnam's export of fruits and vegetables to Russia will still reach 54.
    4 million U.
    S.
    dollars, a year-on-year increase of 58.
    7%

    .
    In the first four months of 2021, Vietnam's export of fruits and vegetables to Russia was US$26.
    2 million, a year-on-year increase of 32.
    4%

    .
     
      According to the Import and Export Bureau of Vietnam’s Ministry of Industry and Trade, Russia has been Vietnam’s traditional export market since the 1990s, with the main export products being coffee, pepper, tea, fruits and vegetables, and rice
    .
     
      Vietnam has signed a free trade agreement with the Eurasian Economic Union
    .
    According to the agreement, import tariffs on nearly 90% of the tax items have been cancelled or significantly reduced

    .
    This is a golden opportunity for Vietnamese export companies, especially agricultural export companies, to open up the Russian market

    .
    Since the agreement came into effect in 2016, Vietnam’s exports of fruits and vegetables to Russia have grown by an average of 20% per year

    .
     
      However, industry experts believe that the export of Vietnamese agricultural products to Russia still faces some difficulties and challenges
    .
    Vietnam's shrimp export prices are relatively high, which affects competitiveness and market share

    .
    For fish hunting, Russia was originally the traditional market for fish hunting in Vietnam, but due to policy mechanism issues, this market lacks stability and so on

    .
     
      In order to expand the market share in Russia and the Eurasian Economic Union, experts suggest that Vietnamese companies should update the information about the EAEU market in a timely manner
    .
    At the same time, it focuses on improving product quality, maintaining corporate reputation and image, promoting the export of processed agricultural products, and enriching the types of fresh fruit exports to minimize transportation and preservation costs, thereby improving product competitiveness

    .
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.
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