In response to shifting geopolitical landscapes and restructuring global economic relationships, Russia has been actively pursuing new trade opportunities and building stronger partnerships, especially in the Asia-Pacific region.
This strategy was a key focus at the “Made in Russia” International Export Forum held in Moscow on October 14.
In the first nine months of this year, Russia set a new record for meat exports, shipping around 570,000 tons, mainly to Asia and the Middle East. Russian grain exports also saw a 12% increase, with Asian countries accounting for a growing share. The Russian Export Center, which supports businesses exporting to Asia, provided nearly 13,000 services in 2024—surpassing the total number of services provided in 2023.
Veronika Nikishina, CEO of the Russian Export Center, commented, “The shifts in global trade have opened up new markets for Russian producers. Although some countries have taken steps to limit Russia’s foreign trade, our primary export markets continue to be developing and friendly nations. We’ve significantly realigned our focus and have been able to maintain export volumes throughout the first two years of sanctions.”
Russia’s export roadmap through 2030 identifies key markets in the Southern Hemisphere, with China, India, Egypt, and Southeast Asian countries being top priorities. Since 2017, the Russian Export Center has been promoting the “Made in Russia” brand, and today, Russian products are available in over 70 countries.
Ilya Koltygin, the head of the Russian Export Center in Vietnam, noted, “We’re seeing more Russian companies entering the Vietnamese market—not just with consumer goods like food, but also with machinery, pharmaceuticals, and raw materials. By setting up legal entities, establishing production facilities, and obtaining Vietnamese certificates of origin, Russian companies can access other Southeast Asian markets.”
Following the realignment of its export strategy, Russia’s exports to Asia rose from $290 billion to nearly $307 billion in 2023. To further unlock this potential, Russian companies are encouraged to expand beyond traditional trade and invest in innovation, technology, and creative industries.
By the end of 2023, Asia’s share of Russia’s overall exports had surpassed 70%. With Asian economies expected to continue growing, significant opportunities lie ahead for Russian businesses looking to expand their global footprint.
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Source: Vietnam Insider