Russia-Vietnam Regional Trade Agreements: Features of Relationship-Building and Trade Effects

Abstract

In the article, the author analyzes regional trade agreements (RTAs) and compares the regionalization of trade relations between Vietnam and Russia. The regionalization processes in the countries started at about the same time, but the results are different. Vietnam has almost caught up with Russia by exports and surpassed it by imports due to the geopolitical and economic factors, which are in favor of regionalization in Vietnam, and against it in Russia. Russia runs great economic risks associated with the creation of RTAs with the largest economies, while Vietnam focuses on correlating the RTA expansion to its development goals.