More opportunities for Vietnamese goods to Russia

Not only having the advantage of a large number of Vietnamese people in Russia, Vietnamese enterprises are also facing a great opportunity to increase the export of Vietnamese goods to Russia when Russia has become a member of the WTO, along with that Vietnam is preparing to join the Free Trade Agreement (FTA) with the Customs Union of Russia - Belarus - Kazakhstan...

Phones and components are the main export items to Russia.

Specifically, Mr. Tran Dang Trung shared: “In the long term, Vietnamese goods exported to Russia will be more favorable when a series of Russian import taxes will be reduced sharply according to the roadmap. Vietnamese enterprises in the Russian Federation will take better advantage of the opportunity to act as a hub for distributing goods, as well as a bridge with Russian enterprises to consume Vietnamese goods. Thereby, Vietnamese enterprises will also proactively build a roadmap to distribute human resources, invest, and find markets when having to compete fiercely with imported goods from other countries in the Russian market.”

Talking about the advantages for Vietnamese enterprises when the Free Trade Agreement between Vietnam and the Customs Union of Russia - Belarus - Kazakhstan is signed, Mr. Pham Quang Niem - Commercial Counselor - Vietnam Trade Office in the Russian Federation said: "Firstly, this will help create a leap forward in developing economic, trade, and industrial investment relations between Vietnam and the Customs Union; Secondly, Vietnam will receive advanced technology and a strong foundation for scientific and technical development from the Customs Union to modernize its economy; Thirdly, it will create jobs and develop the service and tourism industries with the Customs Union; Fourthly, it will create conditions to promote strong investment flows between the Customs Union and Vietnam". It is expected that this agreement will be signed in late 2014 and early 2015.

Mr. Niem also added that, along with the above two opportunities, there are currently quite a large number of Vietnamese people doing business and living in Russia. They have been in Russia for a long time and know the culture, living habits and consumer tastes of Russians quite well. This is our advantage that not every country has. We consider them a very important economic, trade and investment bridge between Vietnam and Russia. Vietnamese enterprises should take advantage of this advantage to penetrate and develop the market share of Vietnamese goods in the Russian market.

However, in addition to the advantages, Vietnamese enterprises will also have to face fiercer competition in terms of quality and price, requiring more systematic and appropriate business methods in the new conditions. Because the market is larger, the tax reduction will also open up opportunities for export enterprises of many other countries, not just Vietnamese enterprises. Therefore, the Vietnam Trade Office in Russia recommends that Vietnamese enterprises should participate in annual fairs and exhibitions to introduce their products to Russian partners. In addition, Vietnamese enterprises exporting Vietnamese goods to Russia need to ensure and maintain good quality, improve designs and should build and register brands with products that are already reputable in Russia. “Currently, the income and living standards of Russians have improved significantly compared to before. High-quality, beautifully designed goods are often preferred and consumed faster. The quality management system and food hygiene and safety in Russia operate quite strictly. The concept of bringing cheap, low-quality goods into Russia is no longer appropriate,” Mr. Niem emphasized.

According to ven.vn