Russian customers are very interested in Vietnamese products.

50 Vietnamese enterprises participated in the Worldfood Moscow 2024 (International Food and Beverage Fair) taking place from September 17-20, 2024 at the Crocus Expo Exhibition Center, Moscow, Russian Federation and participated in the Trade Delegation to the Russian Federation from September 15-23, 2024.

VIETNAMESE AGRICULTURAL PRODUCTS INCREASING PRESENCE IN THE RUSSIAN MARKET

Famous Vietnamese products participated in the fair such as: coffee, cinnamon, star anise, cashew, rice and rice products, food ingredients, pepper, beverages...

Participating in the fair aims to promote the national image, the image of Vietnamese enterprises and brands. At the same time, it increases the export of Vietnamese food products with strengths and development potential in the Russian market as well as neighboring markets, promoting the consumption network in this large market.

The Vietnam Trade Office in the Russian Federation said that on the first day of the Fair, the Vietnamese pavilion attracted a large number of Russian customers as well as importers from many other countries around the world to visit and learn.

Ms. Meshcheryakova Elena, Head of Strategic Development, Food City Trade Center, assessed that recently, Vietnamese agricultural products have increased in the Russian market. Moreover, some products have also consolidated their position in the market. This proves that goods from Vietnam are of good quality and are favored by Russian consumers.

Imported products and goods from Vietnam always attract the attention of wholesalers and retailers in Russia. “As one of the major trade centers specializing in importing and distributing agricultural and food products in Moscow, Food City is ready to cooperate with Vietnamese enterprises to bring quality Vietnamese products to be distributed here,” Ms. Meshcheryakova Elena emphasized.

Vietnam booth at Worldfood Moscow 2024.

Ms. Olga Volkova, Deputy Director of X5 Group - Northwestern branch of the Russian Federation, in charge of communications and foreign relations with State agencies, informed that the group is currently interested in diversifying the supply of goods from Asia, including Vietnam. X5 Group focuses on direct import, without intermediaries, signing direct contracts with manufacturers and suppliers of agricultural products. This is an opportunity for Vietnamese goods to penetrate deeper into the Russian market.

Faced with effective trade signals, Vietnamese Trade Counselor in the Russian Federation Duong Hoang Minh emphasized that organizing this trade promotion delegation is extremely necessary, aiming to create conditions for businesses of the two countries to strengthen cooperation, have more opportunities to directly exchange and sign contracts.

In addition to Vietnam's strong products such as agricultural products and processed foods that are present at major fairs, Mr. Minh said that participating in specialized fairs in the supporting industry sector (also Vietnam's strength) will bring practical results for Vietnamese enterprises in this field.

TAKING ADVANTAGE OF THE BOOST FROM VIETNAM - EAEU FTA

However, in order for trade to yield results in contracts, Mr. Minh emphasized the importance of maintaining quality and the ability to maintain the quantity of goods supplied to partners in the Russian Federation.

According to the General Department of Vietnam Customs, in the first 7 months of 2024, bilateral trade turnover between Vietnam and the Russian Federation reached 2.74 billion USD, up 45.5% over the same period in 2023. Of which, exports reached 1.36 billion USD, up 46.4%. Many food groups of Vietnam exported to Russia continued to maintain high growth rates such as: seafood, rice, confectionery, pepper, etc.

According to Mr. Vu Ba Phu, Director of the Trade Promotion Agency (Ministry of Industry and Trade), the rapid increase in trade turnover between Vietnam and Russia is mainly due to the Free Trade Agreement between Vietnam and the Eurasian Economic Union (Vietnam - EAEU FTA). This agreement is having a positive effect on bilateral trade in which the Russian Federation and Vietnam are two active members.

The agreement is a huge boost for Vietnam's exports, helping to diversify markets and export products, especially agricultural and aquatic products, food, and Vietnamese products that have many competitive advantages.

To take advantage of the incentives brought by the Vietnam - EAEU FTA, and continue to maintain high bilateral trade growth this year and in the coming time, Mr. Phu said the Ministry of Industry and Trade will increase trade promotion activities, especially participating in specialized exhibitions and fairs in Russia.

Registering to attend trade fairs is an effective trade promotion measure for businesses to learn about the market and find customers in Russia.

Thuy Linh