Russian firms interested in Vietnamese market

Russian firms are intrigued by the Vietnamese market, given that the ruble is falling and Russian manufacturers are eyeing international markets, said a Russian official.

Olga Koshev, President of the Inter-Regional Organisation for Support and Protection of Small and Medium-sized Enterprises (L) (Source: VNA)

Moscow (VNA) – Russian firms are intriguedby the Vietnamese market, given that the ruble is falling and Russianmanufacturers are eyeing international markets, said Olga Koshev, President ofthe Inter-Regional Organisation for Support and Protection of Small andMedium-sized Enterprises.

In a recent interview with Vietnam NewsAgency, Koshev said Vietnam plays an important role in Russia’s policy of a “pivot”to Asia-Pacific, adding that successful market penetration in Vietnam - a keymember of ASEAN, will help Russia gain a foothold in the 600-million peoplemarket.

According to Koshew, many Vietnamesebusinesses have succeeded in Russia, mostly in markets and trade centres. Meanwhile,Russia needs products from Vietnam such as fisheries, coffee, vegetables,garment and wooden furniture.

However, Vietnamese exporters still havedifficulties regarding payment, exchange rates, legal matters and geographicaldistance when exporting to Russia, she said, suggesting that they also need torenovate technology to improve quality and reduce prices and to promotemarketing.

She noted that her organisation is ready tooffer free consultancy and support to Vietnamese firms wishing to enter Russia.

In her opinion, both countries shouldstrengthen ties between small and medium-sized enterprises, aiming to realisethe goal of lifting two-way trade to 10 billion USD by 2020.

Commenting on the upcoming visit byPresident Tran Dai Quang from June 28 – July 2, Koshev said it will deepen the bilateralcomprehensive strategic partnership.-VNA

VNA