Coffee is among the main agricultural products Vietnam exports to Russia (Photo: VNA) MARDDeputy Minister Phung Duc Tien called on both sides to push ahead with furtheropening their countries’ markets to each other’s agricultural products and worktowards mutual recognition so as to reduce barriers and the time needed tolicense fisheries and animal farming businesses.
Thisis the foundation for Vietnamese and Russian enterprises to continue promotingtrade and fully optimise preferential treatment under the free trade agreementbetween Vietnam and the Eurasian Economic Union (EAEU), he said.
Theofficial noted that the countries’ agricultural cooperation is focusing ontrade.
Bilateraltrade averaged 4.5 billion USD annually between 2018 and 2020, about 18 – 20percent of which, equivalent to 900 million USD, came from the trading of farmproduce – a relatively modest figure compared to the countries’ economicpotential and comprehensive strategic partnership.
Vietnammainly exports coffee, aquatic products, vegetables, and fruit to Russia whilemostly importing wheat, aquatic products, wood, rubber, and recently pork fromthe latter.
Tienheld that as agricultural products of Vietnam and Russia do not directlycompete with but are complementary to each other, the two sides shouldcapitalise on their own advantages and strong products to achieve the tradetarget of 10 billion USD in the near future.
With139 projects worth 943.77 million USD, Russia ranked 25th among the144 countries and territories investing in Vietnam as of December 2020.Meanwhile, Vietnam had 25 investment projects worth nearly 3 billion USD inRussia.
Heasked Russia to work closely with Vietnam to foster partnerships inagricultural investment, as well as in the application of new and advancedtechnology to agricultural and aquatic processing so as to reduce productioncost and enhance competitiveness.
Thetwo sides should also coordinate to organise both online and offline events topromote trade and deal with technical obstacles, the deputy minister added.
RussianDeputy Minister of Agriculture Sergey Levin said despite numerous difficultiescaused by the pandemic’s impacts, the countries have maintained frequentmeetings on trade and investment.
Healso affirmed the potential and prospect of agricultural cooperation and trade,noting that his country wishes to develop bilateral ties.
Russiawill send a representative to its embassy in Vietnam to strengthen trade linksin the time to come, he added.
Atthe event, the Miratorg group of Russia and the Huong Viet company of Vietnamsigned a memorandum of understanding under which the former will supply meatand wheat products for Vietnam, and the latter aquatic, coffee, cashew, anddried fruit products for Russia./.
VNA
