Russia-Vietnam bilateral trade grows 6 per cent in 2025

Deputy Prime Minister Dmitry Chernyshenko addressed the forum. Photo: VGP

According to the official portal of the Russian government, Deputy Prime Minister Dmitry Chernyshenko, together with Prime Minister Pham Minh Chinh, welcomed participants to the Russian-Vietnamese Business Forum in Moscow on March 24.

DPM Chernyshenko said that last year marked the 75^th anniversary of diplomatic relations between the two nations and quoted Russian President Vladimir Putin, “Over these years, Vietnam and our country, Russia, have forged a unique relationship of alliance and fraternal mutual assistance.”

Over the past year, we have achieved significant progress both in the development of our countries and in bilateral Russian-Vietnamese trade and economic cooperation, DPM Chernyshenko said

"Russia’s economy continues to grow steadily. In 2025, the highest growth rates were observed in tourism and the financial sector, as well as in manufacturing. There is increasing demand from both businesses and the state for stepping up international economic ties. By the end of 2025, bilateral trade between Russia and Vietnam grew by 6 per cent. Both Russian exports to Vietnam and Vietnamese imports to Russia have increased,” the Russian DPM stated.

DPM Chernyshenko added that Vietnam was Russia’s traditional partner in Southeast Asia, and a country with high growth rates and significant economic potential. In 2025, Vietnam’s GDP growth exceeded 8 per cent, and its foreign trade approached $1 trillion.

Regarding promising areas of cooperation, Russia is prepared to serve as a reliable supplier of energy resources, coal, oil, gas, meat, wheat, fertiliser, confectionery, pharmaceutical products, and polymer goods.

The DPM invited relevant companies to expand their presence in the Vietnamese market. An effective infrastructure for trade and project collaboration has already been established for Russian and Vietnamese businesses. The DPM also highlighted the importance of the Vietnam–Russia Joint Venture Bank in supporting business and tourism.

Over the years, logistical connectivity between Russia and Vietnam has improved. In 2025, the geography and frequency of direct flights between the two countries expanded. According to DPM Chernyshenko, this reflects strong interest in mutual tourism and business travel.

“The flow of tourists from Russia to Vietnam in 2025 nearly tripled, reaching 690,000 people. Russia ranks among the top five foreign countries in terms of tourist visits to Vietnam and is ready to compete for leadership in this regard. Tourist arrivals from Vietnam to Russia grew by almost 36 per cent. We are working to simplify visa requirements,” the DPM added.

Russia is prepared to support Vietnam’s sustainable development, which aims to achieve net-zero emissions by 2050. On March 23, in the presence of Russian Prime Minister Mikhail Mishustin and Vietnamese Prime Minister Pham Minh Chinh, an intergovernmental agreement was signed for the construction of Vietnam’s first nuclear power plant using advanced Russian technology.

DPM Chernyshenko added that Russia is also ready to intensify cooperation with Vietnam in digital technologies and education.

“Russia is prepared to share expertise and experience in cutting-edge solutions such as smart and safe cities, cloud technologies, cybersecurity, AI, and the digitalisation of public services. Russia is ready to assist Vietnam in training skilled personnel for high-tech industries through joint projects. This work is being carried out under the Russian-Vietnamese Consortium of Technical Universities,” the DPM said.

DPM Chernyshenko invited Vietnamese colleagues to participate in the 29^th St Petersburg International Economic Forum, scheduled for June 3–6, and the Eastern Economic Forum, which will take place from September 1–4.

PM Chinh reported that during his visit, he had met with Russian PM Mikhail Mishustin, Federation Council Speaker Valentina Matviyenko, and State Duma Speaker Vyacheslav Volodin.

“I see great potential for the development of bilateral relations. I am confident that the Russian-Vietnamese Business Forum will bring our business communities together. The advancement of political relations serves as a driving force for opening up bilateral ties in other areas. We regard Russia as our most important partner in Europe, and these relations should unite our economies. We hope that you, our friends, will find ways and opportunities to strengthen our partnership,” said PM Chinh.

He also outlined prospects for cooperation in education, science, innovation, digital technologies, finance, transport logistics, and other fields.

In the presence of DPM Chernyshenko and PM Chinh, Russian and Vietnamese companies exchanged a series of bilateral agreements, including an MoU between Vietnam Railways and Ava Trading; letters of intent between FESCO Transport Group and Vietnam Maritime Corporation, and between Delo Group and Vietnam Maritime Corporation; and a protocol between Vietnam National Industry and Energy Group and Zarubezhneft covering the re-registration and transfer of subsoil use licences between ZN-Sever and Rusvietpetro.

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