Vietnam and Russia deepen trade and investment ties at ASEAN‑Russia summit

Vietnamese business leaders and officials met Russian counterparts in Kazan for the 35th ASEAN‑Russia summit, highlighting a long‑standing partnership that dates back over 75 years. Trade between the two countries rose to about $4.8 billion in 2025, a 9 % increase from the previous year, with Vietnam exporting cashew, coffee and textiles while importing wheat, chemicals and automotive parts. Joint ventures such as Vietsovpetro in oil and gas, a planned Ninh Thuận nuclear power plant, and new LNG projects were cited as key symbols of cooperation.

Minister of Finance Ngô Văn Tuấn and Russian Economic Development Minister Maxim Reshetnikov discussed removing obstacles to investment and agreed to draft a memorandum of understanding to formalise future collaboration. Prime Minister Lê Minh Hưng attended a ceremony where more than 100 enterprises exchanged documents, and Vietjet announced three new flight routes linking Vietnam and Russia, underscoring the expanding connectivity between the two economies.