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Vietnamese shoe manufacturers prepare for expansion to Russia
03.07.2015 3935

Vietnamese shoe manufacturers prepare for expansion to Russia

Vietnamese retailers are planning to enter the Russian market. One of them is the clothing and footwear manufacturer Vinatex, which earns $ 20 billion a year from exporting its products.

The exit of Vietnamese companies will not be large-scale, but gradual, since they need cooperation with Russian partners, explained Le Truong Son, head of the Vietnamese investment company Intcenter. He also recalled that Vietnam is the first Asian country to sign a free trade agreement with the Customs Union. This fall, the Vietnamese authorities must ratify this agreement, Le Truong Son said.

The trade turnover between Russia and Vietnam, according to the company "Intcenter", is $ 4 billion and has a tendency to increase, since Russia has recently turned its attention to Asia. According to Le Truong Son, the free trade agreement gives Vietnamese companies the ability to supply up to 80% of their goods duty-free.

Vietnamese retailers plan to enter the Russian market.
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