In the era of deepening globalization, effectively leveraging free trade agreements (FTAs) has become a vital strategy for Vietnamese enterprises seeking to expand their export markets and enhance competitiveness.
With its strong commitment to integration, Vietnam is now among the most open economies in Asia, having signed and implemented 20 FTAs, 18 of which are currently in effect. These agreements not only reflect Vietnam’s increasing international standing but also open up substantial export potential for domestic businesses.
Russia and Belarus: Promising Markets with Untapped Potential
Among the emerging destinations, Russia and Belarus stand out as promising markets for Vietnamese goods—particularly in the context of the Vietnam–Eurasian Economic Union (EAEU) FTA, which is creating clear pathways for market access. However, successfully entering these markets requires strict compliance with technical regulations, especially regarding rules of origin. Understanding and properly applying these rules is key to unlocking tariff preferences and strengthening the competitiveness of Vietnamese products.
At the online seminar titled "Promoting Trade with the European Market: Boosting Exports to the Russian Federation and the Republic of Belarus", Mr. Hoang Minh Chien, Deputy Director General of the Vietnam Trade Promotion Agency (Ministry of Industry and Trade), noted that bilateral trade between Vietnam and Russia reached approximately USD 4.59 billion in 2024, marking a 26% increase over 2023. In just the first four months of 2025, bilateral trade hit USD 1.57 billion—equivalent to 34% of the previous year’s total. Vietnam’s key exports to Russia include seafood, coffee, tea, cashew nuts, textiles, footwear, mobile phones, and electronic components.
Conversely, Vietnam imports essential industrial products from Russia such as crude oil, coal, fertilizers, non-ferrous metals, and machinery. Despite this strong base, there remains significant untapped potential—particularly in sectors like agricultural produce, processed foods, pharmaceuticals, and medical equipment, where Russian demand is high but current supply from Vietnam is limited.
Belarus, while currently posting a modest bilateral trade volume of nearly USD 60 million in 2024, has also shown strong growth potential. The two countries established a strategic partnership in May 2025 and signed a visa waiver agreement for ordinary passport holders, effective from January 30, 2025. These developments provide a strong foundation for investment promotion, business exchanges, and goods circulation. Beyond traditional exports such as rice, seafood, and coffee, Vietnamese companies can now target Belarus with higher value-added products like electronics, functional foods, textiles, and footwear.
Rules of Origin: The Key to Tariff Preferences
In international trade, rules of origin are not only legal requirements but also essential for benefiting from tariff reductions under FTAs. For the Vietnam–EAEU FTA, rules of origin are clearly defined and include three main categories: wholly obtained, fully produced, and non-originating goods.
Ms. Tran Thanh Binh, Head of the Rules of Origin Division (Export–Import Department, Ministry of Industry and Trade), explained that “wholly obtained” goods are those entirely grown, harvested, or extracted within a member country. In contrast, “fully produced” goods may incorporate inputs from multiple EAEU members but are eligible for origin status if the final production process occurs in one of the member states.
For “non-originating” goods, exporters must either demonstrate a tariff shift at the chapter level (HS code) or meet a minimum domestic value-added threshold—typically 40%. The agreement also allows for cumulation, enabling businesses to combine originating values from multiple EAEU countries to meet origin requirements.
Another critical point is the validity of the Certificate of Origin (C/O), which must not exceed 12 months from the date of shipment. If a C/O expires during customs clearance, the shipment may be denied preferential treatment. In cases where reissuance is required, companies must provide legitimate and verifiable reasons under the FTA framework.
Toward Sustainable Export: Proactive Strategies and Legal Compliance
To fully capitalize on FTA benefits—especially under the Vietnam–EAEU agreement—experts advise businesses to proactively study the agreement’s provisions, particularly those relating to origin requirements, C/O procedures, and relevant legal frameworks. Proper compliance minimizes risks of being denied preferences and enhances brand credibility and competitive edge in international markets.
Strict adherence to origin regulations also helps foster a fair, transparent, and sustainable trading environment. Enterprises are strongly urged to avoid participating in origin fraud—not only to safeguard their own reputations but also to protect the country’s image and the integrity of the entire export sector. Even isolated violations can severely disrupt market access for others in the supply chain.
In the long term, businesses are encouraged to formulate medium- and long-term investment strategies, including establishing production facilities in Russia or EAEU member states. This would help optimize logistics costs and take full advantage of tariff preferences.
Enterprises should also leverage support from agencies such as the Ministry of Industry and Trade, the Export–Import Department, and the Vietnam Trade Promotion Agency. These bodies regularly host seminars, publish guidelines, and provide technical assistance to help companies navigate FTA implementation effectively.
Finally, meticulous preparation of export documentation—including commercial invoices, bills of lading, shipping documents, and certificates of origin—is essential for smooth customs clearance. In cases involving multimodal transport, companies may request deferred submission of the bill of lading in accordance with current ministry guidelines.