The Minister Counselor Embassy of Russia Federation said that, the commitment of tax and quota of Russia when taking part in WTO, the rate of import tax in Russia will be 7.8% (while the recent rate is 9.5%).
This commitment is quite good for Vietnam when the export products mainly are aqua products, computers, electric products, textile, footwear, and agricultural products.
Besides, Russia is also the member of WTO. This is the good chance for Vietnam to fairly compete with others and enlarge the market share in Russia. However, the deputy of VCCI said that, Vietnamese export products still makes up 0.5% of the total import products in Russia. This tiny number shows the wasting in the potentiality of each country.
The reason why lies in the no stable transaction link. Few of business has the own offices in Russia. Thus, the fluctuation in demand of consumer is not up to date.
Besides, the applying in tariff barrier and non tariff barrier of Russia is popular, especially in agricultural and aqua products. In addition, Russia is also the tough market.
Ready to support
One of the difficulties in Vietnamese export products to Russia is the payment procedure. Now many Russian businesses use direct payment, instead of L/C. it means, the buyer will deposit 20-30% and then, pay the left on when receiving products.
This way brings some risks for Vietnamese businesses. Many enterprises do not collect enough money, or lateness happens in payment. Thus, Vietnamese businesses should research and fathom to select the right services of banks to be suitable to Russia market.
Bank will have the supportive policies for Vietnamese exporters to choose the right kind of money such as USD, Euro, or Rup. Besides, the bank also helps businesses to open L/C, and transfer money via system successfully.
Translated by: maxib2b.com
Under the announcement of Air Mekong, from 19th, May, they will open the straight flight path from Hanoi to Con Dao on Wednesday and Saturday per week.View more...