Fish businesses of Russia, Vietnam to join efforts in trade of biological resources, turnover for 8M at $212 mln

MOSCOW. Oct 16 (Interfax) - The trade turnover of fish products between Russia and Vietnam amounted to $212.4 million in 8M 2025, which is almost equal to the figure for the same period last year, and the businesses of both countries operating in this sphere intend to intensify cooperation to expand mutual trade.

According to the Russian Fisheries Association (VARPE), a memorandum of understanding will be signed with the Vietnam Association of Seafood Exporters and Producers (VASEP) at the upcoming international fishing forum in St. Petersburg. The document is aimed at implementing the agreements on developing trade and economic ties and the investment climate reached between the Russian and Vietnamese governments this year.

"A direct agreement between the largest fishing business associations of the two countries is designed to strengthen business ties between companies and bring mutual trade to a new level," VARPE President German Zverev was quoted as saying in a press release.

"Currently, Vietnam imports mainly pollock, cod, mackerel, salmon, crabs and fish meal for domestic processing and feed production from Russia. In turn, Russia imports high-value-added tropical seafood such as shrimp, pangasius, tuna, cephalopods, and some types of processed fish," VASEP General Secretary Nguyen Hoai Nam was quoted as saying. "These trade flows largely complement each other, combining Russia's rich natural marine resources and Vietnam's developed aquaculture and processing industry."

There remains significant untapped potential for trade between the countries in this sphere, he said.

Russia and Vietnam are in the top ten exporters of fish products. At the same time, Vietnam is one of the largest suppliers of pangasius and shrimp to the world market. Russia, in turn, leads in the pollock, herring, cod, and premium crab sectors.

According to Vietnamese customs statistics provided in the press release, the level of mutual trade in seafood between the countries in 2024 amounted to $362 million. Vietnam exported fish products to Russia worth more than $231 million and imported products from Russia worth $131 million.