Vietnam, Russia’s Udmurtia Republic seek to boost trade bond

Moscow (VNA) – An online workshop to promote trade cooperation between Vietnam and the Udmurtia Republic, a federal subject of Russia, took place on November 27, bringing together representatives from enterprises of both sides.

In his opening speech, head of the Udmurtia Republic Alesander Brechalov briefed participants on Udmurtia’s economic potential, saying that he expects the event will help the two sides’ enterprises understand each other's proposals.

Udmurtia ranks first in terms of cheese production and third in milk production in Russia, he said, adding that the Udmurtia has two cities with investment incentives and four industrial parks being available for serving businesses.

He expressed his hope for expanding cooperation with Vietnam.

For his part, General Director of the Trade Promotion Agency of the Ministry of Industry and Trade of Vietnam Vu Ba Phu said the workshop offers a good chance to introduce cooperation potential to the two sides in particular, and between Vietnam and Russia in general, especially in the context of severe impacts posed by the COVID-19 pandemic on global business and trade.

The agency will work closely with the Russian Trade Office in Vietnam to further boost trade cooperation between the two countries.

Vyacheslav Kharinov, Chief Representative of the Russian Trade Office in Vietnam expressed his wish that Udmurtia businesses will increase contact with Vietnamese partners to access this growing market.

In the first nine months of 2020, bilateral trade between Vietnam and Russia reached 4.1 billion USD, up 8 percent year on year, said head of the Vietnam Commercial Affairs Office in Russia Duong Hoang Minh./.