Nigeria offers new market potential for Vietnam
Tuesday, December 5,2017
AsemconnectVietnam - Nigeria has become a potential commercial market for Vietnam in Africa as Vietnam is running a huge trade surplus with the market, focusing on such staple items as transportation vehicles, computers and electronic products.
Doan Duy Khuong, vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI) made the remarks at a Nigeria-Vietnam Business and Investment Forum in Hanoi on December 4.
Businesses from the two countries have strengthened exchanges and cooperation on the principle of equal mutual benefits. Over the past five years, average two-way trade between Vietnam and Nigeria hit more than US$250 million annually, he said.
Vietnam’s exports to Nigeria included transport vehicles, computers, and electronic products while imports were cashew nuts, cotton yarn, wood fibre, fruit and vegetables.
The two countries have also boast great cooperation potential in agriculture, farm produce processing, clothing outwork, mining, and construction material production.
According to VCCI, Nigeria wants to import products that Vietnam is a leading producer of, while Vietnam desires to buy raw products to serve its export targets.
The forum will help push up trade, investment, and import and export activities between the two countries, said Mr Khuong, adding that VCCI will serve as a bridge for setting up an effective and enduring partnership between businesses.
Oye Akinsemoyin, chairman of Nigeria-Vietnam Chamber of Commerce and Industry, said the Chamber hopes to receive assistance from Vietnam to fully exploit the two countries’ strengths in product processing, particularly farm produce.
He hopes trade activities between Nigeria and Vietnam will further expandin the future, with a focus on exports of unprocessed products and cooperation in production and processing.
Source: vov.vn
Source: vov.vn
Dak Lak exports first macadamia lot to RoK
Vietnam's exports to EU, US see sharp downturn in 2023
2023 a spectacular year for US- Vietnam relationship: US Ambassador
Vietnam among countries with high economic growth rates: foreign media
Bac Ninh aims to integrate into regional semiconductor ecosystem
Vietnam enjoys trade surplus of 125 billion USD with European, American markets
Agricultural products key part of Vietnam’s exports to Guangdong
Bac Lieu rolls out red carpet for Indian investors
Vietnam’s textiles, garments yet to fully tap FTAs’ advantages and potential
Vietnam among biggest exporters of Christmas decoration products to US
Malaysia media forecasts Vietnam’s bright medium-term outlook
Hong Kong official highlights potential of financial cooperation with Vietnam
Da Nang seeks more cooperation opportunities with Russia
Vietnam, Russia’s Primorye hold huge cooperation prospect: Trade representative
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
Supporting industry development program in Da Nang city in ...
Implementation plan of Scheme on promoting agricultural, ...
Central Highlands preserves traditional culture
The first culture, sports and tourism festival for ethnic groups in the Central Highlands has contributed to preserving their traditional ...Vietnam’s five-year HFCs production, consumption baselines ...
Ten rare monkeys released into the wild at Phong Nha-Ke ...
