At the event. (Photo: VNA) Hanoi (VNA) – While the Russia-Ukraine conflict has left negative impacts related to transport, inflation and international payments on import and exportactivities, it could also create opportunities for businesses which adopted timelyadaptation measures, experts have said.
Speakingat a workshop, entitled "Adaptive solutions for import and exportactivities in the context of the Russia-Ukraine crisis" organised by theVietnam International Arbitration Centre (VIAC) in collaboration with the Ho ChiMinh City International Integration Support Centre (CIIS) on April 20, VIAC Chairman Vu TienLoc said the Russia-Ukraine conflict are considered as one of thehot spots causing direct impacts on the economies of many countries.
AsVietnam's important trading partners in the Eurasian region, import and exportactivities between Vietnam and Russia as well as Ukraine have also experiencedsignificant changes. Businesses have not only faced disruption in the supplyof raw materials and fuels but also affected the delivery of goods and increasetransportation costs, he said.
PhamBinh An, DeputyDirector of the HCM City Institute for DevelopmentStudies, said Vietnam's two-way trade with Russia and Ukrainereached about 7.6 billion USD last year, accounting for 1.2 percent of the country'stotal import and export turnover.
TheRussia-Ukraine conflict has thus both directly and indirectly affected Vietnam'seconomy, he said.
Vietnamese enterprises have not only had difficulties inthe direct import of some products from Russia andinterruption in exporting products to Russia and Ukraine, they also have toface competition in purchasing raw materials from other markets, An said.
Thedisruption of the supply chain in the Russia and Ukraine markets has greatlyaffected seafood enterprises in Vietnam as well as other countries when most ofthe raw materials are imported from Russia, Truong Dinh Hoe, General Secretaryof the Vietnam Association of Seafood Exporters and Producers (VASEP)said, adding that orders have been continuously delayed and canceled, resulting incongestion and losses for bussinesses.
To dealwith the above-mentioned problems, Loc suggested that businesses should havelong-term strategies to cope with the fluctuations in the market. It wasnecessary for them to be equipped with solutions on risk management andhandling disputes to be more resilient and resume business operations quicklyin the near future, he said.
Anagreed, saying that enterprises should actively diversify markets and supply aswell as payment methods. He added that it is a must for them to study theincentives that free trade agreements, which have become effective, broughtabout to reduce costs and improve competitiveness.
Meanwhile,Hoe said, in response to the Russia – Ukraine conflict, seafood enterpriseshave adjusted business activities in a timely manner. Accordingly, enterpriseshave proactively carried out quick payment measures through channels fromforeign banks and private banks.
Seafoodenterprises are actively looking for opportunities to increase the market shareof pangasius as there is a shortage of white fish supply in Europe, hesaid./.
