Vietnam-Russia Trade Likely +22% To $2 Billion In 2009 - Report

HANOI -- Trade between Vietnam and Russia is expected to rise 22% to $2 billion in 2009, Vietnamese state media said Friday.

Vietnam's main imports from Russia are oil products, steel, fertilizers, chemicals, machinery and equipment, while its key exports to Russia are garments, footwear, seafood, farm produce and handicrafts, the Thoi Bao Kinh Te newspaper said, citing the Ministry of Industry and Trade.

Trade between the two countries rose by 62.4% to $1.64 billion in 2008, the report said.

Vietnam's exports to Russia in 2008 were $672 million, up 46.4%, it added.

The ministry has forecast the bilateral trade to rise to $3 billion in 2010 and $10 billion by 2020, the report said.