Photo: VASEP/FIS

Promising Growth: Tuna Exports to Russia Gain Momentum

VIET NAM
Friday, May 09, 2025, 00:10 (GMT + 9)

Vietnam Leverages Economic Ties, Easing Trade Barriers, and Strong Russian Demand for Tuna Export Surge

Russia is increasingly viewed as a favorable market for Vietnamese tuna exporters, with turnover steadily rising, according to Nguyen Ha, Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP).

As highlighted by Nguyen Ha, Tuna Market Expert from the Vietnam Association of Seafood Exporters and Producers (VASEP), the Russian market presents significant advantages for Vietnamese tuna businesses seeking export expansion. Data from Vietnam Customs indicates a substantial increase in export turnover to Russia, reaching nearly USD 45 million in 2024. This represents a fivefold increase compared to 2020 and marks the highest level in the past decade. This positive trend has continued into 2025, with tuna exports to Russia exceeding USD 10 million in the first three months alone, a 15% rise compared to the same period in 2024.

Trade counselors emphasize the complementary nature of the Vietnamese and Russian economies, creating numerous opportunities for economic and trade cooperation. Vietnam has a demand for Russian products for its production and consumption needs, while Russia imports tropical agricultural products, seafood, and food items from Vietnam. Furthermore, Russia ranks among the top 30 global tuna import markets, with its import value doubling in just five years to reach nearly USD 90 million in 2023.

Several factors contribute to the favorable export environment. Recent challenges that previously hindered bilateral trade, such as transportation, payment processing, and business travel, have been actively addressed. Goods can now be efficiently transported from Vietnam to Russia via direct sea routes (Vladivostok-Hai Phong, Ho Chi Minh City) with a transit time of approximately 8-11 days, or via the international railway route (Vietnam-China-Kazakhstan-Moscow) with a transit time of about 35-40 days.

Payment processes have also been streamlined, allowing businesses in both countries to utilize rubles and Vietnamese Dong for bilateral trade transactions. Additionally, the Russian Federation's introduction of electronic visas, permitting Vietnamese citizens a 15-day stay, facilitates business travel.

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The Vietnam-Eurasian Economic Union Free Trade Agreement, in effect since October 2016, further enhances trade opportunities. This agreement grants most import and export goods between the two nations a 0% or very low import tax rate. Trade counselors advise Vietnamese enterprises to proactively leverage these favorable conditions to boost bilateral trade and investment.

However, to ensure stable exports to the Russian market and avoid quality-related disputes, Vietnamese enterprises are recommended to conduct thorough research and strictly adhere to local regulations concerning product quality, packaging, and labeling.

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