VIETNAM REDUCES ARMS TRADE WITH RUSSIA AND TRIES TO BECOME SELF-RELIANT
VIETNAM REDUCES ARMS TRADE WITH RUSSIA AND TRIES TO BECOME SELF-RELIANT
OVERVIEW
Due to the ongoing war between Russia
and Ukraine, many countries including Vietnam are becoming reluctant to perform
trade with Russia and are looking for alternate options. For many years,
Vietnam was considered as the top importer of Russian weapons and defense
systems, and Vietnam Import Data was dominated by the same. Now, Vietnam is an emerging and
rapidly growing nation and is trying to reduce imports of arms and ammunition
from Russia and is trying to produce them domestically or import them from another
country. Vietnam is focusing on producing weapons for itself, as well as for
export purposes also to the African and Asian nations.
Facts say that Southeast Asian
countries are considered one of the biggest buyers of arms and ammunition and
have dedicated a certain amount to imports of the goods in the budget which is
close to USD 1 billion. This budget is set to rise in the future due to
increasing global and political tensions.
WHAT IS THE TAKE ON VIETNAM IN THE
CURRENT SCENARIO?
In this changing scenario, where
Vietnam is rejecting Russian arms, it is trying to produce the required arms on
its own domestically and striving hard to become self-reliant in this domain.
Moreover, to maintain the Vietnam Trade Data of
the nation, it is also finding new potential nations from whom it can import
arms of better quality and at low cost. Till now, Vietnam has tapped the market
of Europe, East Asian countries, India, the USA, Israel, and the UAE. Vietnam
also hosted an international arms and ammunition trade fair where 160+
companies took part which were from 20+ countries. Some of the prominent
companies that took part were the defense groups of Israel, Japan, India, and
the UAE.
Vietnam’s defense industry is working
very vigorously to get equipped with the latest technologically advanced
machinery and ammunition such as Anti-tank rockets, grenades, and automatic
guns. The country, in collaboration with other developed or stronger companies,
is working to build drones, missiles, and radars.
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WHAT DO OFFICIALS OF VIETNAM HAVE TO
SAY ABOUT THIS TREND?
As per Ha Hoang Hop, a military
procurement expert, in the past Vietnam was in negotiations with Russia for the
procurement of satellites and other multipurpose gadgets. But now, it seems
that Russian Imports would decline as most countries including Vietnam are not
willing to buy products from Russia. Due to this trend, the total weapon
imports from Russia are declining in Vietnam which was USD 72 million in 2021
from USD 1 billion in 2014.
As Vietnam shifts from Russian
military imports, the Vietnam Trade Data now sees numbers from the
United States, Israel, and South Korea. As per the statements of officials, the
weapons provided by India, Israel, and other Eastern European countries are the
best alternatives to Russian Weapons.
FINAL VERDICT
As per our verdict and viewpoint,
Vietnam is not in the favor of the war between Russia and Ukraine and
completely disregards the way Russia is taking forward this conflict. Reducing
its dependency on Vietnam over Russia for arms and ammunition is a very big
step and will affect Vietnam Trade Data and Vietnam Import Data to a certain
extent. But as the nation found a number of alternatives for the weapons, and
domestic production of them is also going on, there won’t be any deficiency in
the arms and weapons for Vietnam.
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