Illustrative image (Source: VNA) Hanoi (VNA) – The Foreign Ministry held a seminar in Hanoi on July 5 on externalrelations and the export of farm produce and aquatic products to the Middle Eastand Africa.
Speaking atthe event, Deputy Foreign Minister Vu Hong Nam said Vietnam and countries inthe Middle East and Africa share long-standing friendships that lay thefoundations for all-round cooperation, especially in trade, industry, and investment.
Nam emphasisedthe Middle East and Africa’s strong purchasing power with a total population ofover 1 billion people.
SouthAfrican Ambassador to Vietnam Mpetjane Kgaogelo Lekgoro said South Africa has amarket-oriented agricultural economy, including food, cereals, animalhusbandry, processed meat, and farm produce. The country imports agriculturalproducts and food, mostly wheat, chicken meat, palm oil, soybeans, fish, andboneless seafood. However, Vietnam accounts for only over 1 percent of SouthAfrica’s imports.
The deputyhead of the Ministry of Agriculture and Rural Development (MARD)’s AgroProcessing and Market Development Authority, Tran Van Cong, said the MiddleEast and Africa are yet to impose strict requirements or certifications foragricultural products. The two sides are also yet to sign a free tradeagreement while tariffs and technical barriers remain unstable.
Paymentrisk is high as regional importers are unfamiliar with opening a letter ofcredit, and many of them ask for deferred payment while Vietnamese businesses preferimmediate payment, forcing many partners to seek other foreign suppliers.
Deputy headof the MoIT’s Department of Asia-Africa Markets Do Quoc Hung hailed the MiddleEast-African region as a promising market with 70 countries and a population ofover 1.6 billion. The region has a huge demand for goods, especially farmproduce and aquatic products, due to severe environmental conditions.
He saidrice will continue to be a major currency earner in the near future.
In order tofacilitate the export of farm produce and aquatic products to the region, Hungsuggested refining the legal framework, mechanisms, and policies, alongside prioritisingthe signing of trade agreements.
Both sidesneed to actively promote bilateral collaboration via the joint committeechannel, he said, adding that Vietnam needs to boost trade promotion and helpfirms join exhibitions and fairs to popularise their brands.
The MARD, theMinistry of Industry and Trade, the Vietnam Food Association, and exportenterprises need to establish a cooperation mechanism to boost export to theregion, he said, adding that the two sides should raise firms’ awareness of thepotential of each other’s market.
Participantsat the event shared experience and discussed payment in export activities,economic diplomacy, and support for businesses. -VNA
Speaking atthe event, Deputy Foreign Minister Vu Hong Nam said Vietnam and countries inthe Middle East and Africa share long-standing friendships that lay thefoundations for all-round cooperation, especially in trade, industry, and investment.
Nam emphasisedthe Middle East and Africa’s strong purchasing power with a total population ofover 1 billion people.
SouthAfrican Ambassador to Vietnam Mpetjane Kgaogelo Lekgoro said South Africa has amarket-oriented agricultural economy, including food, cereals, animalhusbandry, processed meat, and farm produce. The country imports agriculturalproducts and food, mostly wheat, chicken meat, palm oil, soybeans, fish, andboneless seafood. However, Vietnam accounts for only over 1 percent of SouthAfrica’s imports.
The deputyhead of the Ministry of Agriculture and Rural Development (MARD)’s AgroProcessing and Market Development Authority, Tran Van Cong, said the MiddleEast and Africa are yet to impose strict requirements or certifications foragricultural products. The two sides are also yet to sign a free tradeagreement while tariffs and technical barriers remain unstable.
Paymentrisk is high as regional importers are unfamiliar with opening a letter ofcredit, and many of them ask for deferred payment while Vietnamese businesses preferimmediate payment, forcing many partners to seek other foreign suppliers.
Deputy headof the MoIT’s Department of Asia-Africa Markets Do Quoc Hung hailed the MiddleEast-African region as a promising market with 70 countries and a population ofover 1.6 billion. The region has a huge demand for goods, especially farmproduce and aquatic products, due to severe environmental conditions.
He saidrice will continue to be a major currency earner in the near future.
In order tofacilitate the export of farm produce and aquatic products to the region, Hungsuggested refining the legal framework, mechanisms, and policies, alongside prioritisingthe signing of trade agreements.
Both sidesneed to actively promote bilateral collaboration via the joint committeechannel, he said, adding that Vietnam needs to boost trade promotion and helpfirms join exhibitions and fairs to popularise their brands.
The MARD, theMinistry of Industry and Trade, the Vietnam Food Association, and exportenterprises need to establish a cooperation mechanism to boost export to theregion, he said, adding that the two sides should raise firms’ awareness of thepotential of each other’s market.
Participantsat the event shared experience and discussed payment in export activities,economic diplomacy, and support for businesses. -VNA
VNA
