16:08 | 11/02/2018 Trade
More Vietnamese businesses may soon be allowed to export aquatic products to Russia this year after a Russian working group made a fact-finding tour of some Vietnamese exporters, said Trade Counsellor of Vietnam in Russia Duong Hoang Minh.
|Trade Counsellor of Vietnam in Russia Duong Hoang Minh|
Minh said Vietnam’s trade office in Russia had earlier held a working session with local agencies.
The move was made after Vietnam was given a “yellow card” warning by the European Commission in September 2017 for failing to progress in fighting illegal fishing, which could lead to a drop in aquatic exports to the EU and other markets.
The counsellor said exports to Russia have encountered difficulties recently since this country and the Eurasian Economic Union (EAEU), of which it is a member, limited aquatic product imports and only allowed 21 Vietnamese companies to ship products to Russia.
However, there are more than 500 Vietnamese businesses eligible to export to the EU and other demanding markets at present. Therefore, the trade office of Vietnam has worked with the Ministry of Agriculture and Rural Development to persuade Russian agencies to lift barriers to Vietnamese aquatic products.
It also invited relevant agencies of Russia and the EAEU to make fact-finding tours to Vietnam in an effort to have more companies be allowed ship aquatic products to these markets, Minh added.
In 2017, Vietnam exported US$2.2 billion worth of goods to Russia, up 35 percent year on year. Commodities with high export growth included vegetables, fruits, cashew nuts, textiles-garments, wood products, machinery and spare parts.
The counsellor said the Vietnamese trade office in Russia will now focus on helping businesses boost shipments and capitalise on the Vietnam-EAEU Free Trade Agreement.
It will also continue working to understand regulations and commitments in the World Trade Organization and free trade agreements, as well as possible trade barriers.