Ministry of Agriculture of the Russian Federation

Ministry of Agriculture of Russia: Russian agricultural exports to Vietnam have grown substantially

11 Sep, 2017
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On September 8, the Deputy Minister of Agriculture of the Russian Federation Yevgeny Gromyko partook in the meeting of the Intergovernmental Russian-Vietnamese Commission for Trade, Economic, Scientific and Technical Cooperation chaired by the First Deputy Prime Minister Igor Shuvalov.

The discussion embraced a wide range of issues on bilateral economic agenda, including trade, industrial, investment and agrarian cooperation, as well as access of Russian agricultural products to the Vietnamese market.
“Our trade turnover for the first half of 2017 increased by 21% compared to the same period last year and amounted to $373 million. Such growth has been achieved, in particular, thanks to the finally enforced Agreement on the Free Trade Area between the Eurasian Economic Union and the Republic of Vietnam. The Agreement unwraps new opportunities for increasing mutual agricultural supplies”, confides Yevgeny Gromyko.
The Agreement provides for gradual liberalization of tariffs up to complete nullification for more than 80% of the commodity nomenclature. In particular, Vietnam's import customs duty rates are zeroed without transition stage for agricultural commodities such as beef, milk and dairy products, flour, wheat and meslin, flax and rapeseed. The rates of duties on alcohol products are also to be discounted.
In the first half of 2017, exports from Russia to Vietnam increased in value by more than 10-fold compared to the same period of 2016 and amounted to 170 million US dollars (2016 – $16.7 million). The export upturn is constituted by wheat, maize and flax seeds procurements.
Agrarian cooperation with Vietnam is not limited to trade in agricultural products and food. Recently, we face a kind of investment rally in the agricultural sector. Another example of such cooperation is a joint project with the Vietnamese holding TH True Milk in Russia.
Following the meeting, veterinary certificates for Russian livestock exports to Vietnam were agreed upon, and the parties signed the agreement on cooperation in product compiance and veterinary control of the import/export of live animals, zoogenic products and raw materials of animal origin.

For reference: on June 29, 2017, the first meeting of the Joint Russian-Vietnamese Committee on the Free Trade Agreement was held in Moscow to harmonize the issues of sanitary, phytosanitary and veterinary measures, align criteria for new commodity nomenclature and exchange the preferential trade data. Following the first meeting of the Joint Committee, the parties agreed on mutual consultations of authorized veterinary services on permits for Vietnamese companies offering seafood and fish products to the EEU market, as well as for meat manufacturers from the EEU supplying to Vietnam.

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