Nation targets 200 million USD in trade with Egypt

Vietnam is hoping to earn at least 200 million USD in exports to Egypt this year, up 25 percent on 2009, said Dang Ngoc Quang, the Vietnamese Trade Counsellor in Egypt.

“I believe that the set target is within reach as Vietnam is promoting new products in this market,” he said.

He added that the Vietnamese Trade Office in Egypt would continue to carry out trade promotion activities in the country, while increasing visits by business delegations. He also said Vietnam would boost dissemination of information via books and newspapers, while encouraging domestic firms to participate in seminars and trade fairs in Egypt .

Two-way trade between Vietnam and Egypt remained steady over the past year, despite numerous difficulties caused by the global economic crisis, he said.

Vietnam earned about 165 million USD from exports to Egypt last year and imported products worth nearly 20 million USD.

However, some key Vietnamese exports, such as seafood and coffee, saw a sharp reduction in turnover last year.

Bucking the trend, Vietnam earned more from the export of tobacco, tea, and cloth, Quang said.

Other key Vietnamese exports to Egypt included agricultural products, such as pepper, rice, coconut, coffee, and agricultural machinery.

The two countries plan to convene a meeting of their joint committees in 2010 to review and implement a wide range of activities in various fields, including economics, trade and tourism.

At a trade meeting in Cairo in 2008, Egyptian officials proposed boosting bilateral cooperation in seafood, renewable energy, oil and gas, pharmaceuticals, IT and tourism.
The two sides signed a number of cooperation agreements covering oil and gas, tourism, small-sized business development and the organising of forums and fairs.

Tags: Vietnam cooperation, Vietnam Egypt cooperation