Vietnam, Russia target $15bn bilateral trade by 2030

Kharinov made the remarks at a press conference held by the Russian Embassy in Hanoi to review the implementation of the Russia–Vietnam comprehensive strategic partnership in 2025.

He emphasized the growing importance of trade cooperation between Russia and Southeast Asian countries, noting that Vietnam remains one of Russia's key partners in the region.

The Vietnam–Eurasian Economic Union Free Trade Agreement, which took effect in 2016, has played a significant role in expanding bilateral trade over the past decade.

Over the last five years, two-way trade has increased 22 percent, equivalent to around $1 billion.

According to Vietnamese data, total trade value reached $4.3 billion in January–November, up 3.7 percent year on year.

Looking ahead, the two sides have reaffirmed their target of lifting bilateral trade to $15 billion by 2030.

Kharinov said the key instrument for achieving this goal is the comprehensive plan for Russia–Vietnam cooperation through 2030, which spans manufacturing, logistics, digital technology, education, pharmaceuticals, and other sectors.

In his remarks, Russian Ambassador to Vietnam Gennady Bezdetko said that beyond trade, energy cooperation has continued to advance, particularly in oil and gas, involving Russian companies such as Zarubezhneft, Gazprom and Novatek, and Vietnam's state-owned Petrovietnam.

"Negotiations on the intergovernmental agreement for the construction of the Ninh Thuan 1 nuclear power plant have entered the final stage. At the same time, both sides are studying the possibility of joint projects in renewable energy development in Vietnam," Bezdetko said.

The project to build a nuclear science and technology center in Vietnam with the involvement of Rosatom is also moving forward.

He added that Russia is considering introducing its leading domestic passenger car brand, Lada of AvtoVAZ, to the Vietnamese market.

Lada vehicles are expected to be sold in Vietnam from 2026, with warranties provided in accordance with Vietnamese law and industry best practices.

Beyond the automotive sector, Bezdetko said the two countries see strong potential for industrial cooperation in pharmaceuticals, medical equipment, and information technology.

In addition, Russia has delivered the research vessel Professor Gagarinsky to Vietnam, expanding the country's capacity for marine scientific research in the East Vietnam Sea.

On international issues, Bezdetko highlighted effective coordination with Vietnam at major multilateral forums such as the United Nations, BRICS, APEC, and within the Russia-ASEAN framework, and expressed appreciation for Vietnam's balanced stance on the Ukraine issue.

He noted that 2025 was a year marked by numerous significant events for the two countries, coinciding with several major anniversaries, including the 75th anniversary of Vietnam–Russia diplomatic relations, the 50th anniversary of Vietnam's Reunification Day, and the 80th anniversaries of both Russia's Victory in the Great Patriotic War and Vietnam's National Day.

The ambassador stressed that bilateral ties continue to be strengthened across multiple fields, underpinned by regular and substantive dialogue at all levels, including the highest.

A key highlight of the year was the official visit by Vietnamese Party General Secretary To Lam to Russia in May, during which the two sides signed 20 important agreements covering areas such as the economy, science, and human resource development.

Several high-level Russian delegations also visited Vietnam in 2025, including those led by Prime Minister Mikhail Mishustin and State Duma Chairman Vyacheslav Volodin, he added.