Promoting Viet Nam - Russia trade cooperation

On the afternoon of September 16, the Viet Nam - Russian Federation business networking conference was held at the headquarters of VTB Bank in Moscow, with more than 100 delegates in attendance.

The conference brought together representatives of Government agencies, associations, trade and investment promotion organisations, as well as Vietnamese and Russian businesses operating in agriculture, food, beverages, consumer goods, textiles and garments, manufacturing and processing, logistics and other sectors.

The event was one of the key activities of the trade mission to the Russian Federation under the 2026 National Trade Promotion Program. It was organised by the Viet Nam Trade Promotion Agency (VIETRADE) in coordination with the Embassy and Trade Office of Viet Nam in the Russian Federation, VTB Bank, the Vietnam-Russia Joint Venture Bank (VRB) and the Association of Russian Importers and Exporters.

In his welcome remarks, Ambassador Extraordinary and Plenipotentiary of Viet Nam to the Russian Federation Dang Minh Khoi welcomed the delegation from the Ministry of Industry and Trade, together with representatives from Thai Nguyen, Phu Tho, and Ho Chi Minh City, to the Russian Federation for a working visit.

The Ambassador emphasised the role of trade promotion and business connectivity between the two countries through the conference. The event took place shortly after the State visit to the Russian Federation from September 7-9, 2026, by Party General Secretary and President To Lam, his Spouse and the high-ranking Vietnamese delegation. According to information presented at the conference, this was the first State visit to the Russian Federation by the head of the Party and State of Viet Nam since 1991, opening up further opportunities for cooperation and contributing to deepening the Comprehensive Strategic Partnership between the two countries.

According to Ambassador Dang Minh Khoi, the Viet Nam - Russia economic and trade cooperation still faces a number of challenges, including international payments and logistics. Therefore, creating a platform for businesses from the two countries to meet directly, learn about potential partners and exchange solutions is of practical significance in promoting cooperation opportunities.

In his opening remarks, Deputy Director of the Viet Nam Trade Promotion Agency Bui Quang Hung said Viet Nam has always regarded the Russian Federation as one of its important partners and wishes to continue promoting bilateral cooperation in a substantive, effective and sustainable manner.

According to Bui Quang Hung, during the State visit to the Russian Federation from September 7-9, 2026, by Party General Secretary and President To Lam, the two countries' leaders agreed to implement strong measures to make economic cooperation an important driving force in Viet Nam - Russia relations, while striving to raise bilateral trade turnover to USD 15 billion in the near future.

As the state management agency responsible for trade promotion and investment promotion for the development of the industry and trade sector, the Viet Nam Trade Promotion Agency said it would continue to accompany the business communities of the two countries and coordinate with Russian agencies and organisations to strengthen business connectivity, provide market information, support businesses in seeking partners and promote business cooperation opportunities.

Removing bottlenecks, expanding business connectivity

At the conference, representatives of VTB Bank and the Viet Nam-Russia Joint Venture Bank (VRB) shared information on the role of banks in supporting businesses from the two countries in cooperation and business activities.

Nina Chaplinskaya, Vice President of VTB Bank, and Anastasia Fokina, a representative of VRB, said the two banks were ready to work alongside the Governments, organisations and businesses of Viet Nam in their engagement with the Russian market, particularly by providing payment and financial solutions for businesses from both countries.

A VTB representative also shared information on trends in foreign economic activities between Viet Nam and the Russian Federation, providing Vietnamese businesses with additional information to help shape their products and prepare to enter and expand in the Russian market.

From a local perspective, Standing Deputy Secretary of the Thai Nguyen Provincial Party Committee Nguyen Dang Binh introduced the province's potential for trade and investment cooperation with Russian partners.

According to Nguyen Dang Binh, Thai Nguyen has adopted the principle that "the success of businesses is the success of the locality," while committing to accompany, support and create favourable conditions for businesses. The province wishes to welcome Russian businesses and investors to conduct surveys, explore cooperation opportunities and invest in the locality.

Anastasia Sayanok, a representative of the Association of Russian Importers and Exporters, said there was considerable room for further strengthening and developing trade relations between the business communities of the two countries.

Russian businesses see prospects for cooperation with Vietnamese partners and have a demand for establishing stable and long-term partnerships. Anastasia Sayanok also shared information on import demand, consumer trends in Russia and conditions for cooperation with the country's distribution systems and retail chains. The representative of the Association of Russian Importers and Exporters expressed her hope that more products from Vietnamese businesses would be available in retail stores across Russia.

Discussions at the conference showed that direct connectivity between businesses from the two countries is in demand across various sectors, ranging from consumer goods, agricultural products and food to manufacturing, processing and logistics.

Immediately after the conference, a business networking session was held, providing Vietnamese businesses with an opportunity to meet Russian partners directly, explore potential partnerships and discuss production linkages, investment cooperation and business opportunities. The meetings enabled businesses to learn more about market demand and distribution systems and expand opportunities to connect with partners in the Russian Federation.