Vietnam ready to serve as economic bridge between Russia and ASEAN

Tuan made the statement at the Russia-ASEAN Business Dialogue, held as part of the 11th Eastern Economic Forum in Vladivostok, Russia, according to Vietnam’s Ministry of Finance.

He said Vladivostok and Russia’s Far East are an important gateway linking the federation with the Asia-Pacific region, including Vietnam.

The Russia-ASEAN comprehensive plan of action for 2026-30, adopted at the Russia-ASEAN Summit in Kazan, is expected to provide a foundation for deeper and more substantive cooperation under the two sides’ strategic partnership.

Russia-ASEAN trade rose nearly 58 percent over the past decade to around US$21 billion in 2025.

Tuan, however, said there remains considerable room for growth, stressing the need to turn cooperation plans into concrete projects and actual trade and investment flows.

Vietnam-Russia trade reached about $4.77 billion in 2025, equivalent to roughly one-fourth of total Russia-ASEAN trade.

Vietnam was also the first ASEAN country to sign a free trade agreement with the Eurasian Economic Union.

With its broad network of free trade agreements, Vietnam is well positioned to serve as a gateway for Russian businesses seeking access to ASEAN and other international markets, Tuan said.

At the same time, Russia’s Far East could offer Vietnamese and ASEAN businesses greater access to the Russian market and the broader Eurasian economic space.

To tap this potential, Tuan called for stronger trade and investment linkages and the development of new supply chains.

He noted that Russia has strengths in energy, raw materials, agriculture, industry, and science and technology, while ASEAN offers a market of nearly 700 million people and a dynamic manufacturing network.

Rather than focusing solely on conventional trade, the two sides should expand cooperation into joint investment, production, and deeper participation in regional and global value chains, he said.

Vietnam, for its part, is ready to help connect Russian businesses with investment opportunities in processing and manufacturing, high technology, energy, logistics, and high-tech agriculture.

“Vietnam stands ready to further promote its role as an economic bridge between Russia and ASEAN, as well as between the Eurasian Economic Union and Southeast Asia,” Tuan said.

He added that Vietnam would work with Russia and ASEAN countries to create new drivers of cooperation that contribute to peace, stability, prosperity, and sustainable development in the region.