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Vietnam Businesses Eye Russia's Far East Opportunities
Vietnam and Russia aim to boost trade following the elevation of their ties and the entry into force of their FTA. The Russian Far East, in particular, presents new market development opportunities for Vietnamese businesses. While bilateral trade shows an upward trend, its potential remains largely untapped.
Vietnam and Russia are seeking to further strengthen their trade relations, bolstered by the elevation of bilateral ties to a comprehensive strategic partnership and the entry into force of the Vietnam-Eurasian Economic Union Free Trade Agreement. Bilateral trade has increased by an average of 10.8% annually from 2016 to 2025. However, trade reached only about US$4.7 billion in 2025, remaining modest compared to the potential of both countries and their strong political ties. In light of this, Vietnam sees new business opportunities in expanding its presence in Russia's Far East. Symbolic developments, such as the inauguration of a facility named after President Ho Chi Minh in Russia's Far East, also highlight the friendly relations between the two nations. Vietnamese culture has also served as a bridge of friendship in the region. Vietnam has proposed five priorities for ASEAN-Russia cooperation, demonstrating its proactive stance towards deepening economic ties.
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