Trade turnover between Russia and Vietnam increased by 6% in 2025

Bilateral trade turnover between Russia and Vietnam increased by 6 per cent in 2025. This was announced by Deputy Prime Minister of Russia Dmitry Chernyshenko at the Vietnam–Russia Business Forum in Moscow, as cited on the website of the Ministry of Economic Development of Russia.

The forum took place during the visit of Prime Minister of Vietnam Pham Minh Chinh to Moscow.

"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"

Dmitry Chernyshenko Deputy Prime Minister of Russia

He also noted progress in financial cooperation, including the launch by Russian banks of a QR code payment system in Vietnam, as well as in the tourism sector: in 2025, 690,000 Russians visited Vietnam.

"I see great potential for the development of bilateral relations. I am confident that today’s 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"

Pham Minh Chinh Prime Minister of Vietnam

A representative of the Ministry of Economic Development of Russia, Nikita Kondratiev, noted that Vietnam is developing dynamically and is a strategic partner of Russia in Southeast Asia. According to him, in 2025 Vietnam’s gross domestic product (GDP) growth exceeded 8 per cent, while the country’s foreign trade turnover approached US$1 trillion.

The forum also discussed promising areas of cooperation. Russian companies proposed considering the opening of medical clinics in Vietnam, outlined plans to develop transport, logistics and warehouse infrastructure to increase cargo turnover, and expressed interest in cooperation in the field of hospitality and hotel management in Vietnam.

During his visit to the Russian capital, Pham Minh Chinh met with President of Russia Vladimir Putin, as reported on the Kremlin’s website. The Russian head of state noted that, as part of the visit, the parties had already signed an agreement on the construction of the first nuclear power plant in Vietnam. For his part, Pham Minh Chinh invited Vladimir Putin to visit the republic in 2026. Putin responded that he would certainly accept the invitation.