Vietnam-South African Business Council makes its debut

The Vietnam-South African Business Council was officially established in Ho Chi MInh City on November 12.

Do Thi Kim Lien, General Director of AAA Assurance Corporation and an Honourary Consul of the Republic of South Africa in Ho Chi Minh City, was elected to become the President of the council.

Its establishment aimed to strengthen cooperative relations among businesses of the two countries in such fields as trade, investment, science, technology, and tourism.

The council is an effective bridge between businesses and government agencies of the partners. Also, through the council, issues related to trade and investment will be discussed to find the best solution for businesses.

South Africa is a new potential market for Vietnamese businesses. The two-way trade volume has recently increased. In 2009, Vietnam’s exports to South Africa were at US$218 million and imports at US$78 million.

In the first five months of this year, the two-way trade volume reached US$214 million, Vietnam’s exports were valued US$160 million, mainly rice, footwear, garments and textile, coffee, arts and handicrafts, and wooden products. Rice was the leading export product with 50-60 percent of export volume to South Africa. – VOV

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