• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Trade with Russia, Kazakhstan rises n last seven months

VGP -- Bilateral trade between Vietnam and the Russia-Belarus-Kazakhstan Customs Union has surged during the last seven months of the year.

August 24, 2012 4:39 PM GMT+7

Two-way trade between Vietnam and Russia increased by 34% year-on-year to US$1.34 billion, according to the General Department of Customs.
 
Vietnam News Agency reports of the total, US$821 million came from Vietnamese exports including garments, computers, seafood and coffee -- an increase of 34%.
 
The country's imports from the market topped US$516 million, a yearly increase of 39% and included iron and steel, fertilizer, machinery and equipment.
 
During the period, trade turnover between Vietnam and Kazakhstan also experienced an impressive growth of 91.3% to rake in US$41 million. Of this, Vietnamese exports mainly of phones and accessories and seafood contributed US$32 million while imports made up US$9 million.
 
 Bilateral trade with Belarus fetched US$100 million during the January-July period, with Vietnam registering a trade deficit of US$91 million.
 
Vietnam could increase bilateral trade with the Customs Union further, the department noted.
 
Russia, Belarus and Kazakhstan are negotiating a free trade agreement (FTA) with Vietnam, which is expected to bring economic, service and investment benefits to all parties.
 
The FTA between Vietnam and the Customs Union will open up prospects for a large free trade area and tighten the traditional and strategic relations between the four countries, said Head of the European Market Department of the Industry and Trade Ministry, Dang Hoang Hai.
 
 "Russia is interested in an FTA with Vietnam as the country may develop a strategic position that helps Russia restore its presence in Asia, particularly in Southeast Asia," Mr. Hai said.
 
 The FTA will enable Vietnam to boost its agricultural, seafood and garment exports to Russia, and Russia to export fertilizer, oil and gas, atomic energy, heavy industry and automobiles to Vietnam.