After a period of stagnation due to the influence of the Russia-Ukraine conflict, Vietnam's tuna exports to Russia have recovered and are on an increasing trend. Tuna export turnover to this market has doubled in just 3 years.

Specifically, according to statistics from Vietnam Customs, Vietnam's tuna export turnover to Russia has increased from 14 million USD in 2021 to nearly 29 million USD in 2023. In the first 3 months of 2024 alone, export value has reached nearly 10 million USD, up 65% over the same period in 2023. With this growth rate, Russia is Vietnam's 4th largest single tuna import market.

Among Vietnam's tuna products exported to Russia, frozen tuna meat/loin is the main export product, accounting for 75% of total export turnover.

In 2023, Vietnam will have more than 15 businesses participating in exporting tuna to the Russian market. Among them, Tuna Vietnam, Hai Trieu Co., Ltd and AHFishco are the three leading companies in exporting tuna to Russia, accounting for more than 61% of total export turnover.

Currently, transporting goods from Vietnam to Russia is more convenient. Russian shipping corporations have opened direct transport routes from Ho Chi Minh City - Hai Phong - Vladivostok and there are a number of other shipping companies running new routes; helps transport goods faster, with shorter transit times. In addition, there is also a rail transport system supporting trade with Russia, making the transport of goods more diverse and easier.

In addition, tariff incentives after our country signed the Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEUFTA) in 2015 has helped Vietnam's seafood products, including tuna, have great competitiveness in this economic market, especially the Russian market.

Specifically, Vietnam is currently the third largest tuna supplier to the Russian market after China and Thailand. While Vietnam's main export product is frozen tuna meat/loin code HS030487 under the VN-EAEUFTA agreement, it is tax exempt when exported to Russia; Chinese and Thai products are subject to a 3.8% tax.

All of these factors are expected to promote Vietnamese tuna exports to Russia in the near future.

Source: VASEP