In the first four months of 2017, Vietnam’s exports to Russia grew by 78.2 per cent. The two-way trade value in 2016 was up 25 per cent over 2015. In the first four months of 2017, it climbed 30 per cent year on year.

Garment and textile exports from Vietnam to Russia were up 146.47 per cent year on year followed by coffee. However coffee exports to Russia fell 18.14 per cent on year.

In addition, Vietnam’s exports of electronic devices were up 16.6 per cent and exports of footwear to Russia were up 10.82 per cent. Vietnamese companies are investing in Russia. To date, Vietnam has about 20 investment projects with a total registered capital of nearly three billion dollars in Russia.

Vietnam-Russia economic cooperation has been strengthened in the areas of trade, investment, oil and gas, and electricity. The two-way trade has been on the rise and forms of cooperation and investment have also been increasingly diversified.

More opportunities for bilateral cooperation are expected especially when the two countries adopt bilateral payment in domestic currencies.