Russia will promote trade exchange activities and support import-export businesses in Vietnam, Russian Consul General in Ho Chi Minh City Alexey V.Popov affirmed at a ceremony introducing the Russia Commercial House model in the city on April 10.

At the launching ceremony. (Photo:

The Russia Commercial House, which offers space for product displays and meetings of businesses, is expected to become a venue for importers and exporters to exchange information and seek partners.

Popov said the sound traditional relations between Vietnam and Russia create a firm foundation for the two countries to develop economic and trade exchanges, noting that two-way trade topped 5.3 billion USD in 2017, showing a year-on-year rise of 35 percent.

Vietnam and Russia aim to bring the bilateral trade to 10 billion USD by 2020.

The Consul General added that Russia’s trade promotion agencies will actively work to connect Vietnamese and Russian businesses as well as increase support for their operation.

Elizaveta Zinovyeva, director of international trade development from RETs Group of the Russian Export Centre, said Russian businesses evaluate Vietnam as one of the most promising countries to expand exports in the coming time, especially after the free trade agreement between the Eurasian Economic Union (EAEU) and Vietnam came into force in 2016.

Vietnam not only records high economic growth but also serves as an important bridge for Russian businesses to access to other markets in the Association of Southeast Asian Nations (ASEAN), she said, adding that this is the reason why the Russian Export Centre launched the first Commercial House in HCM City – the southern economic hub of Vietnam.

According to Zinovyeva, the house will provide a number of services supporting trade activities for Russian exporters and Vietnamese importers.

It will help businesses seek new partners and provide the latest information on the market in addition to introducing prestigious and highly competitive suppliers and consulting about import-export contracts.

The house will also offer financial and insurance services for trade activities between Vietnam and Russia, she noted.

Vice Chairman of the Vietnam Chamber of Commerce and Industry Vo Tan Thanh said Vietnam and Russia have stepped up cooperation in various fields in recent years, especially trade and investment.

The Commercial House model is expected to boost import-export activities and increase trade value between the two countries, he added.

Source: VNA