VN, South Africa explore boosting trade relations
VN, South Africa explore boosting trade relations
Despite the geographical distance, bilateral trade between South Africa and Viet Nam has increased from US$658 million in 2010 to more than $1 billion in 2018.
The statement was made by Trinh Huyen Mai, vice head of the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT), at a conference in Johannesburg, South Africa on Monday.
However, Mai said trade still lags behind its potential due to a lack of information and delegation exchanges between Vietnamese and South African businesses.
Representing the local business community, Bernadette Zeiler, head of the international trade unit at the Johannesburg Chamber of Commerce and Industry, expressed the hope that trade promotion activities will prove effective at bolstering the two business communities and strengthening the Viet Nam–South Africa relationship.
Vietnamese Ambassador to South Africa Vu Van Dung stressed the embassy and its trade office considers boosting bilateral trade and investment ties one of its top priorities.
A Vietnamese trade promotion delegation that includes 22 businesses from five localities is visiting South Africa from June 21 to 29, seeking partnerships and export opportunities.
Organised by the MoIT and the Ha Noi People’s Committee as part of the 2019 national trade promotion programme, the trip aims to showcase Vietnamese products, identify trade partners and investment opportunities and study consumer tastes and import requirements for the market.
Vietnamese firms have been showcasing the nation’s key products such as apparel, rice, coffee, processed food and construction materials at the South African International Trade Exhibition 2019, which runs from June 23 to 25. The expo brings together more than 320 enterprises from 34 countries.
The delegation plans to have a meeting today with representatives of the South African Ministry of Trade and Industry to discuss matters of common interest and future co-operation opportunities.
On June 27, a workshop on Viet Nam–South Africa trade will be held in Cape Town. Viet Nam’s delegation will also hold separate meetings with local importers and retailers, including Advance Cash & Carry.
