Speaking at the Russia-ASEAN Business Dialogue at the 11th Eastern Economic Forum in Russia on Wednesday, Vietnamese Finance Minister Ngo Van Tuan said trade between Russia and ASEAN had increased by nearly 58% over the past decade, reaching around 21 billion USD last year.
Notably, Vietnam suggested establishing a Far East-Vietnam-ASEAN logistics corridor linking maritime transport, ports, cold-storage facilities, distribution centers and production hubs.
Minister Tuan said a key task was to turn cooperation priorities into concrete projects that generate tangible trade and investment flows.
“Vietnam holds a special position in ASEAN-Russia relations. Trade between Vietnam and Russia reached around 4.77 billion USD in 2025, accounting for roughly one-quarter of total Russia-ASEAN trade. Vietnam was also the first ASEAN member to sign a free trade agreement with the Eurasian Economic Union (EAEU),” he said.
With an extensive network of FTAs, Vietnam can serve as a gateway for Russian businesses to access ASEAN and other international markets, while Russia’s Far East can create opportunities for Vietnamese and ASEAN enterprises to enter the Russian market and the broader Eurasian economic space, Mr. Tuan noted.
