Vietnam is seeking to sign an agreement with Russia on the quality of agro-forestry and seafood exports, according to the Ministry of Industry and Trade (MoIT) on Wed (Apr 21).

This is part of a move to formulate a legal corridor, facilitating trade exchanges between Vietnam and Russia, said Pham Quang Niem, head of the Russia-SNG Office under the MoIT's European market department.

In 2009, two-way trade hit US$1.83 billion, of which Vietnam's exports were US$415 million, accounting for only 0.24% of Russia's import turnover.

Vietnam and Russia expect to boost their two-way trade to US$3 billion by 2012 and US$10 billion by 2020.

To this end, Niem said, the two nations need to look into an overall free trade agreement, as well as another specifically between Vietnam and the Russia-Kazakhstan-Belarus Customs Union.

This will create an important legal corridor for Vietnam to further boost exports to Russia, he added.

In the coming time, the MoIT will accelerate trade promotion activities in Russia, including a greater presence at trade fairs and exhibitions and more business visits to the market.