Vietnamese businesses seek new opportunities from Nigerian market

A talk between Vietnamese and Nigerian businessmen was held in Hanoi on April 16 as part of Vietnam Expo 2010.

The event was jointly organised by the African and West-and-South-Asian Markets Department, under the Ministry of Industry and Trade (MoIT), the Vietnamese Commercial Counsellor in Nigeria, and the Vietnam National Trade Fair and Advertising Company (Vinexad).

Pham Van Cong, the Vietnamese Commercial Counsellor to Nigeria, says the Nigerian delegation to Vietnam Expo 2010 represents 17 businesses operating in the areas of clothing, footwear, plastic, pharmaceuticals, food, household commodities, electronics, and electrical equipment.

Vietnam sees Nigeria as an attractive potential market in the African region, Vietnam’s government and business groups both welcome Nigerian partners and any opportunity to bolster economic relations between the two countries.

Despite steady improvement, the Vietnam-Nigeria relationship still faces short of its potential, mainly due to a lack of information and mutual understanding, so, a seminar like this is really important, Mr. Cong insisted.

According to MoIT statistics, Vietnam’s trade turnover with Nigeria in 2009 exceeded US$100 million. Vietnam exports mainly garments, footwear, and handicrafts to Nigeria and imports from this country fruit, cotton, and minerals.

Tags: Vietnam Nigeria cooperation