V. KHARINOV. VIETNAM: BRIDGE BETWEEN ASEAN AND THE EAEU

Vyacheslav Kharinov, Trade Representative of the Russian Federation in the Socialist Republic of Vietnam

Amid the rapidly evolving landscape in global trade and as Russia reorients its foreign economy towards
the East, Vietnam holds a special place as a key partner of the Eurasian Economic Union (EAEU) and a potential
strategic hub within the Greater Eurasia. Its sustainable economic growth, advantageous location, and
active integration policy render the Socialist Republic of Vietnam a bridge between the EAEU and ASEAN, clearing the way to the burgeoning Southeast Asian market.

In terms of geography and politics Vietnam enjoys a unique status as a member of ASEAN and a party to the region’s major trade agreements—the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

For Russia and the EAEU, Vietnam is not only a reliable partner but also a platform for expanding economic
influence, fostering industrial cooperation, and establishing sustainable production and logistics chains across
the Asian region.

Russian-Vietnamese relations stand on a solid historical ground. In 2025, the countries celebrated the 75th anniversary of diplomatic relations. The Soviet Union was among the first nations to recognise the Democratic Republic of Vietnam in 1950, and by 1958, a Trade and Navigation Agreement was signed, resulting
in a Soviet Trade Mission in Hanoi.

The modern phase of cooperation began in 2001 with the Declaration on Strategic Partnership, and in 2012, the relations were elevated to a comprehensive strategic partnership.

High-level contacts, including visits by Russian President Vladimir Putin in 2024 and Prime Minister Mikhail Mishustin in 2025 to Vietnam, as well as the visit of the Secretary General of the Central Committee of
the Communist Party of Vietnam Tô Lâm to Russia in 2025, have provided momentum for further development
of the bilateral dialogue.

The Free Trade Agreement (FTA) between the EAEU and Vietnam, signed in 2015 and in effect since October 2016—the first of its kind for the EAEU with a third country—increased mutual trade volumes twofold over the past decade.

Russian exports largely consist of machinery, equipment, metallurgical products, and mineral fertilisers, while Vietnam supplies the EAEU with electronics, seafood, textiles, and coffee. However, the particular importance of the FTA comes not only from increased trade volumes but also a deeper cooperation in industry, logistics, and technologies. Thus, this format has evolved into a mechanism for strategic integration rather than merely a tool for liberalisation.

Moreover, Vietnam is heavily investing in industrial zones, offering preferential tax regimes that enhance its appeal as an attractive hub for Eurasian enterprises.

Significant progress has been made through joint industrial efforts, with a steadily growing Vietnamese demand for Russian vehicles.

At the same time, initiatives in energy, pharmaceuticals, IT, and the digital economy are being implemented. The Comprehensive Plan for Russian-Vietnamese Cooperation for the period up to 2030, signed during Mikhail Mishustin’s visit to Hanoi in January 2025, provides for the development of industrial presence, the establishment of trade and logistics hubs, as well as export-oriented production facilities.

The countries have set an ambitious goal to increase trade turnover to 15 billion USD by 2030. Achieving it will largely depend on the comprehensive cooperation plan covering energy, industry, logistics, digital technologies, education, and pharmaceuticals.

Furthermore, the development of export support mechanisms and the reduction of risks for businesses abroad (through development institutions) will attract Russian companies to the Vietnamese market.
Despite the progress made, certain obstacles still remain, thwarting cooperation—differences in technical standards and certification procedures, the limited presence of SMEs from the EAEU in the Vietnamese market, and the need to adapt to the local business culture and communications. Digitalisation of logistics and trade, as well as harmonising legal norms, is becoming increasingly pertinent.

Russia has traditionally invoked a sense of respect among Vietnamese. However, in business, historical sympathies matter less than commercial viability and convincing proposals. When considering long-term cooperation, Vietnamese partners will carefully analyse the price, terms, and guarantees.

Nevertheless, the formula to success in business still is personal meetings, with the most effective communication often facilitated through a local representative or the Russian Trade Mission. It is crucial to bear in mind the hierarchical dynamics: negotiations are usually coordinated by a counterpart, showing respect for formalities—exchanging business cards, adhering to a strict presentation structure, and being concise and specific in arguments—leaves a positive impression.

Establishing trust is paramount for effective interaction, alongside maintaining proper hierarchy and showing respect for cultural differences. Exchanging souvenirs at the end of the meeting, adhering to protocol, and behaving appropriately during talks are of great importance.

Communication takes patience. The slow tempo of life in Vietnam does not mean refusal—it rather reflects a cultural practice where careful consideration and internal consensus are valued. Decisions are often made collectively, and a refusal may be expressed indirectly, avoiding a straightforward “no.”

It is essential to keep in mind the regional differences as well—in the North (Hanoi), partners tend to be more conservative and strategic in their thinking, while in the South (Hồ Chí Minh), they generally demonstrate greater flexibility in communication but may be more insensitive to formal details.

Over the past decades, Vietnam has undertaken large-scale reforms, accumulating substantial experience in foreign economic activities, and has become one of the most dynamic markets in the region. The Vietnamese are hardworking and closely knit with a strong desire for long-term development and a future-oriented outlook. By successfully implementing a multi-vector policy, the country adeptly balances national interests with a pragmatic approach to international cooperation.

The decade of the FTA has proven that this format is effective, as Vietnam has established itself as a reliable ally and a vital bridge between the EAEU and ASEAN. Today, it is crucial to leverage the experience gained, expand business presence, deepen institutional interactions, and move to a new phase of integration.