A corner of Hanoi-Moscow Centre for Culture, Trade and Hotels in Moscow. It's expected to be a place for Vietnamese companies to develop their business in Russia. — Photo Vnexpress.net

HA NOI (Biz Hub) — About 100 Vietnamese enterprises are expected to participate in a high-quality Vietnamese goods fair that will be held at the Hanoi-Moscow Centre for Culture, Trade and Hotels in Moscow.

The enterprises will present their products to Russian customers.

The fair will be held from November 11 to December 12 this year, and will be jointly organised by the Vietnamese Embassy in Russia, the industry and trade ministry, the Ha Noi and HCM City People's Committees, and the Russia-based Vietnamese Entrepreneurs' Association, besides the Bank for Development and Investment of Viet Nam and Incentra Company.

At a press conference on July 14, the organisers said the fair, with an exhibition space spread across 15,000sq.m, will be attended by Vietnamese companies, Vietnamese enterprises operating in Russia, Russian companies and companies in the Eurasian Economic Union (EAEU) that trade in Vietnamese goods, as well as travel agencies, banks and food companies.

Speaking at the conference, Deputy Minister of Industry and Trade Do Thang Hai said the fair aimed to boost co-operation between domestic businesses and Russia-based Vietnamese enterprises, providing an opportunity for Vietnamese companies to present their products, promote brands, approach partners and boost trade, as well as expand markets and develop a network of local outlets and distributors.

The fair is a one of series of events being organised to welcome the free-trade agreement between Vietnam and the EAEU, and help prepare Vietnamese companies gain a foothold in the Russian market once the agreement takes effect.

The participants will receive financial aid for organising and setting up their stalls from BIDV, a 50 per cent cut in airfare from national carrier Vietnam Airlines, and accommodation at the Ha Noi – Moscow Hotel for half the rate from Incentra Company.

Ta Hoang Linh, Deputy Director of the Trade Promotion Agency under the industry and trade ministry, said many Vietnamese businesses had invested in the Russian market, mostly in the oil and gas and garment sectors.

Russia is a potential market for Viet Nam with a total trade turnover of US$3.5 billion. The two governments hope to bring the figure to US$10 billion by 2020, Linh said, adding that the potential to do business in this market was very high.

Vu Thi Hong Yen, a representative of Minh Trang Company that specialises in fine art in the northern Ninh Binh Province, said her business was small and so, its expenditure on expansion and to seek new markets was not much. This fair will be a good opportunity for the company to directly study the market as it is encouraging businesses to participate.

During the fair, many events such as a conference on bilateral payments between Viet Nam and Russia, a trade promotion conference on new opportunities for Vietnamese exports in the Russian market and the EAEU region following the Viet Nam-EEU free-trade agreements, field trips to survey the market and signing of co-operation agreements, as well as economic contracts and investment promotion and technology transfers will be held. — VNS