Bid to boost Mideast, Africa trade

A workshop on how to boost Viet Nam’s exports to the Middle East and African markets was held in HCM City on Thursday with the participation of economic experts and nearly 100 exporters.

According to Ly Quoc Hung, head of the Africa-West Asia and South Asia Department under the Ministry of Industry and Trade, trade relations between Viet Nam and Middle East and African countries have expanded over recent years with Viet Nam enjoying an export surplus.

Two-way trade between Viet Nam and the Middle East stood at US$2.16 billion, of which $1.13 billion were Viet Nam’s export earnings.

Meanwhile, the Southeast Asian country exported goods and services worth $1.56 billion to African countries in 2009, a year-on-year increase of 20 per cent, and imported commodities worth $508 million from the market.

Major Viet Nam’s exports to the two markets include rice, tea, coffee, cashew nuts, seafood, wood products, rubber, computer, electronic products and components and handicraft items.

The country, in the meantime, imports oil and gas, plastic material, fertiliser, chemicals and steel from Middle East and African countries.

In the coming time, Viet Nam will increase trade promotion activities to the two markets, help local enterprises popularise their products by attending fairs and exhibitions, organise online conferences as well as assist domestic enterprises in opening branches or representative offices in these regions.

Participants to the workshop also examined trade barriers and cultural differences between the two target markets. — VNS

Tags: Vietnam Africa trade, Vietnam Mideast trade