Potential for Vietnamese exports to Africa: workshop
There remains room for Vietnamese exports to the African market, experts said at a virtual workshop on Viet Nam-Africa trade promotion held by the Vietnam Trade Promotion Agency (Vietrade) on Wednesday.
Speaking at the event, Le Hoang Tai, deputy head of the agency, said Viet Nam has established trade relations with all 54 African nations whose population amounted to some 1.3 billion.
Bilateral trade between Viet Nam and Africa has grown positively over the past year, hitting US$6.7 billion in 2020, he added.
Nguyen Minh Phuong from the Ministry of Industry and Trade’s Asia-Africa Market Department said Viet Nam has recorded a trade surplus to this regional market.
She noted South Africa is Viet Nam’s main export market with a turnover of $681 million last year, followed by Egypt, Ghana, and Ivory Coast.
Cao Minh Tu from the same department underscored farm produce as the top priority for the bilateral trade, with Africa importing $596.1 million worth of rice from Viet Nam in 2020.
Freshwater fish, apparel, footwear products, medical equipment, scooters, spare parts, generators and water pumps are those that can be successfully exported to Africa, he added.
Experts at the event highlighted opportunities for Vietnamese firms in the market but also warned of the potential for fraud.