The trading cooperation of Vietnam with Russia under the current global turbulence

Cover Page

Cite item

Full Text

Abstract

The significance and possibilities for furthering economic ties between Russia and Vietnam in the light of the current global scenario establish the relevance of this study. The purpose of the research paper is to provide multi-dimensional views on the bilateral trade relationship between Russia and Vietnam in different time periods, as well as to make judgments for the future. The aim of the study is to analyze the context and situation of exports and imports between the two countries. The main methods of the study are to collect and analyze historical data, thereby making analyses and comparisons based on different influencing factors. Both nations should exert more effort to strengthen their cooperation, expand into new areas, improve their infrastructure to speed up transactions, and look for shared solutions to payment issues that could affect the entire import and export process in order to be able to develop further and make the most of the development potential. Additionally, promoting commerce and raising investment capital between firms in both countries depends on the facilitation of tourist and cultural exchange activities between the two nations.

About the authors

Ekaterina S. Novikova

Plekhanov Russian University of Economics

Author for correspondence.
Email: Novikova.ES@rea.ru
ORCID iD: 0000-0003-2342-6939

Ph.D. (Economics), Assistant Professor, Department of Economic Theory

Russian Federation

Huu Phu Nguyen

Plekhanov Russian University of Economics

Email: nguyenhuuphubp@gmail.com
ORCID iD: 0009-0004-2404-6932

Student, High School of Economics and Business

Russian Federation

Hoang Anh Le

Plekhanov Russian University of Economics

Email: lehoanganh.vnn@gmail.com
ORCID iD: 0009-0007-7781-7771

Postgraduate Student

Russian Federation

References

  1. Altig, D. (2020). Economic uncertainty before and during the COVID-19 pandemic. Journal of Social Economics, 191. https://doi.org/10.1016/j.jpubeco.2020.104274
  2. Anikin, B.A., Anikin O.B., Thuong N.Q., Dong P.T. (2020). Forecasting the development of foreign trade of Russia and Vietnam until 2025 based on the logistic curve. Achievements and applications in statistics, 1: 63 – 78. http://dx.doi.org/10.17654/AS060010063
  3. Anis, Z., Jomo, K.S. (2020). Responding to the COVID-19 pandemic in developing countries: lessons from selected countries in the global South. International Development Society, 63: 162–171. https://doi.org/10.1057/s41301-020-00256-y
  4. Bokaeva, A. (2023). On the issue of investment projects in Russia and Vietnam. Newsletter “Historical and socio-political sciences”. https://doi.org/10.51889/2959-6017.2023.78.3.007
  5. Bui Quy Thuan, Ha Thanh Cong (2021). Impact of the Vietnam – EAEU FTA on the trade between Vietnam and Eurasian Economic Union. International Conference on Research in Management & Technovation. No 28. P. 91 – 98. doi: 10.15439/2021KM53
  6. Bui Thi Huyen, Luu Van Quyet (2022). Russia’s Pivot to Asia and Russia-Vietnam Economic Relations in the Early 21st Century. Emerging Science Journal, 1492–1506. http://dx.doi.org/10.28991/ESJ-2022-06-06-017
  7. Dinh Le Hong Giang (2022). The Vietnam-Russia Comprehensive Strategic Partnership: Formation, Implementation, Evaluation. European Studies Review, 23: 3–16.
  8. Egorova, L.I., Trofimovskaya A.V., Fatin, M.V., Medvedeva, E.A. (2019). Prospects of Enhancing Russia-Vietnam Economic Cooperation: Barriers and Drivers. Advances in Economics, Business and Management Research. https://doi.org/10.2991/icefb-19.2019.5
  9. General Statistic Office of Vietnam (GSO). Retrieved on 27.10.2023 from URL: https://www.gso.gov.vn/en/data-and-statistics/2023/03/exports-and-imports-value-by-months-of-2023/
  10. Ha Van Su, Le Hoi Quoc (2019). The impact of participation in the comprehensive and progressive trans-pacific partnership agreement on exports – The case of Vietnam. Management Science Letters. URL: https://goeco.link/aQLUl
  11. Ho Chi Minh city customs department. Retrieved on 02.10.2023 from URL: https://tphcm.customs.gov.vn/index.jsp?pageId=3244&aid=185918&cid=5278
  12. International Monetary Fund. Retrieved on 27.10.2023 from URL: https://www.imf.org/external/datamapper/NGDPDPC@WEO/VNM?zoom=VNM&highlight=VNM
  13. Karaganov, S. (2017) From turning to the East to Greater Eurasia. Russia in Global Affairs. URL: https://globalaffairs.ru/articles/ot-povorota-na-vostok-k-bolshoj-evrazii/
  14. Khách Việt có thể xin visa điện tử vào Nga từ 1.8 [Vietnamese tourists can apply for an electronic visa to Russia from August 1]. Lao động, 01.08.2023. URL: https://dulich.laodong.vn/tin-tuc/khach-viet-co-the-xin-visa-dien-tu-vao-nga-tu-18-1223714.html
  15. Kokushkina, I. (2017). Aspects of Russia – Vietnam trade and economic cooperation development in the late XX and early XXI centuries. URL: https://jiem.ftu.edu.vn/index.php/jiem/article/view/167/117
  16. Luzyanin, S.G. (2022). “Russia – Vietnam – China” triangle: current challenges, transformations and asymmetriesю The Russian Journal of Vietnamese Studies, 6, (4): 4–12. https://doi.org /10.54631/VS.2022.64-117510
  17. Mazyrin, V.M. (2021). Dve sistemy, dva puti razvitiya ekonomiki V'etnama [Two systems, two ways to develop the Vietnamese economy], in: Nezavisimyj V'etnam: nacional'nye interesy i cennosti [Independent Vietnam: National interests and values]. M.: IFES RAS. P. 131–148. (In Russian)
  18. Mogyi, R., Spiker, A. (2021). The influence of social and economic connections on the spread of COVID-19 in Europe. Journal of Demographic Research. No. 39. P. 459 – 511. https://doi.org/10.1007/s12546-021-09257
  19. Nguyen Hung Cuong (2022). Vietnam – Russia Relations – 70 years of historical milestones. Economy and society, 1–19. URL: https://cyberleninka.ru/article/n/vietnam-russia-relations-70-years-of-historical-milestones
  20. Rau V. V. (2018). Food Export: Looking to the East. Studies on Russian Economic Development. No 29 (1). p. 41 – 49p.
  21. Revenko, N.C. (2022). Torgovo-ekonomicheskoe sotrudnichestvo Rossii s V'etnamom na sovremennom etape [Trade and economic cooperation between Russia and Vietnam at the present stage]. Rossijskij vneshneekonomicheskij vestnik [Russian Foreign Economic Bulletin], 7: 83-98. https://doi.org/10.24412/2072-8042-2022-7-83-98/ (In Russian)
  22. Russia and Asia: paradoxes of the new reality. URL: https://ru.valdaiclub.com/files/45712/
  23. Ryazantsev, S.V., Le Duc Anh, Phung Huy Hoang, Moiseeva, E.M. (2022). Overseas vietnamese in russia and their contributions to the promotion of bilateral relations. The Russian Journal of Vietnamese Studie, 6 (3): 34-45. https://doi.org/10.54631/VS.2022.63-106318
  24. Sokolov, A. (2021). Vietnamese studies in Russia and the former Soviet Union. Journal of Vietnamese Studies, 16: 67–69. https://doi.org/10.1525/vs.2021.16.1.67
  25. Stepanov, E.A. (2019). Tendencii i perspektivy ekonomicheskogo sotrudnichestva Rossii i V'etnama: vneshnyaya torgovlya kak zerkalo ekonomicheskih svyazej [Trends and prospects for economic cooperation between Russia and Vietnam: foreign trade as a mirror of economic relations]. Ekonomicheskie nauki. [Economic Sciences], 9: 84–91. https://doi.org/10.24411/1994-2796-2019-10909. (In Russian)
  26. Thông báo tuyển sinh đi học theo diện học bổng Hiệp định tại Liên bang Nga năm 2023 [Announcement of admission to study under the Agreement scholarship in the Russian Federation in 2023]. Bộ Giáo dục và Đào tạo. 02.03.2023. URL: https://icd.edu.vn/372/thong-bao-tuyen-sinh-di-hoc-theo-dien-hoc-bong-hiep-dinh-tai-lien-bang-nga-nam-2023.html/BPF/vi-vn/CMS_Cat/Thong-Tin-Tuyen-Sinh/CMS_Detail/2139. (In Vietnamese)
  27. Thông báo tuyển sinh đi học theo diện học bổng Hiệp định tại Liên bang Nga năm 2023. Bộ Giáo dục và Đào tạo [Announcement of admission to study under the Agreement scholarship in the Russian Federation in 2023. Ministry of Education and Training]. 02.03.2023. URL: https://icd.edu.vn/372/thong-bao-tuyen-sinh-di-hoc-theo-dien-hoc-bong-hiep-dinh-tai-lien-bang-nga-nam-2023.html/BPF/vi-vn/CMS_Cat/Thong-Tin-Tuyen-Sinh/CMS_Detail/2139. (In Vietnamese)
  28. Trigubenko, M.E. (2014). Rossiya-V'etnam: Vseob"emlyushchee strategicheskoe partnerstvo nabiraet oboroty. Ekonomicheskoe obrazovanie [Russia-Vietnam: The Comprehensive Strategic Partnership is gaining momentum. Economic Education]. URL: https://www.elibrary.ru/item.asp?id=22587100
  29. Vann E.F. (2006). Domesticating consumer goods in the global economy: Examples from Vietnam and Russia. Ethnos, 70: 465–488. https://doi.org/10.1080/00141840500419758
  30. Vardomskiy L. B. (2021). Russia-Vietnam Regional Trade Agreements: Features of Relationship-Building and Trade Effects. Russian Foreign Economic Journal. No 8. p. 7-20. https://doi.org/10.24411/2072-8042-2021-8-7-20
  31. Vietnam Briefing. URL: https://www.vietnam-briefing.com/news/vietnam-russia-trade-new-links-between-sea-and-rail-route.html/ 20.09.2022
  32. Vietnam’s population. Retrieved on 27.10.2023 from URL: https://danso.org/viet-nam/
  33. Vu Phuong Thao, Nguyen Ngoc Quan, Smirnov V.V. (2021). Assessing the impact of Covid-19 on the economies of Russia and Vietnam and their economic relations. Economy and Society. No. 4(83). pp. 943 – 958. URL: https://cyberleninka.ru/article/n/assessing-the-impact-of-covid-19-on-the-economics-of-russia-and-vietnam-and-their- economic-relation
  34. World Population Review. Retrieved on 17.12.2023 from URL: URL: https://worldpopulationreview.com/country-rankings/wheat-exports-by-country
  35. WTO Vietnam. Retrieved on 17.12.2023 from URL: https://trungtamwto.vn/hiep-dinh-khac/18333-co-nhieu-loi-the-nong-san-viet-nam-vao-nga-van-gap-kho
  36. WTO-FTA International Economic Integration. Retrieved on 27.10.2023 from URL: https://wtocenter.vn/chuyen-de/4760-vietnam--eurasian-economic-union-fta-full-content
  37. Xuất khẩu hàng hóa sang thị trường Nga: Điểm danh 2 mặt hàng tăng trưởng 3 con số [Exporting goods to the Russian market: List of 2 products with 3-digit growth]. Công Thương, 07.09.2023. URL: https://congthuong.vn/xuat-khau-hang-hoa-sang-thi-truong-nga-diem-danh-2-mat-hang-tang-truong-3-con-so-270913.html#:~:text=N%E1%BA%BFu%20nh%C6%B0%20xu%E1%BA%A5t%20kh%E1%BA%A9u%20c%E1%BB%A7a,%C4%91%E1%BA%A1t%20950%2C8%20tri%E1%BB%87u%20USD. (In Vietnamese)
  38. Yakovlev A., Turaeva M. (2023). Russian-Vietnamese economic cooperation in new conditions. Journal of the New Economic Association, 1 (58): 172–181. https://doi.org/10.31737/22212264_2023_1_172

Supplementary files

Supplementary Files
Action
1. JATS XML
Download
2. Fig. 1. GDP per capita (current US$) in Vietnam. Source: International Monetary Fund. Retrieved on 27.10.2023 from URL: https://www.imf.org/external/datamapper/NGDPDPC@WEO/VNM?zoom=VNM&highlight=VNM

Download (21KB)
Indexing metadata
3. Fig. 2. Russia’s export and import with ASEAN countries in 2022. Source: Russia and Asia: paradoxes of the new reality. URL: https://valdaiclub.com/multimedia/video/russia-and-asia-paradoxes-of-a-new-reality/

Download (24KB)
Indexing metadata
4. Fig. 3. Exchange rate between US dollar and Russian ruble from 1.1.2015 to 28.10.2023. Source: USD/RUB - US Dollar Russian Ruble data. Retrieved on 28.10.2023 from URL: https://www.investing.com/currencies/usd-rub-historical-data

Download (18KB)
Indexing metadata

Copyright (c) 2024 Novikova E.S., Nguyen H.P., Le H.A.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

This website uses cookies

You consent to our cookies if you continue to use our website.

About Cookies