The Vietnamese Embassy in Cairo introduced cooperation potentials and partnership opportunities in the Vietnamese market to Egyptian enterprises during a conference in Ismailia city on May 13.

Addressing the event, Ambassador Dao Thanh Chung reviewed Vietnam’s 2014 socio-economic context as well as key benchmarks of the Vietnam-Egypt relations. He also proposed a number of measures to beef up bilateral trade ties.

Businesses of both sides should actively participate in trade fairs, investment conferences and exhibitions to seek partnerships, he said, suggesting they should set up direct relations to avoid third party risks.

He held that agriculture, forestry and seafood are promising areas for the two countries to cooperate, urging authorised agencies of both sides to pay greater attention to tapping the full collaboration potential in these fields.

Chairman of the Ismailia Chamber of Commerce Akram El Shafey confirmed that local enterprises are keen to explore collaboration opportunities with Vietnamese partners.

He suggested the Vietnamese Embassy in Egypt organise similar conferences to offer Ismailia enterprises deepened understanding on potentials and Vietnam’s investment environment.

He revealed that the Ismailia Chamber of Commerce hopes to sign a memorandum of understanding on affiliation with the Vietnam Chamber of Commerce and Industry to fostering partnerships between the business communities of both sides.

Last year, trade between Vietnam and Egypt reached 395 million USD, a 100-million USD rise from 2013. The two sides are striving to raise the figure to 400 million USD this year.

Ismailia, a city in northeast Egypt and the capital city of Ismailia province, is located between the Suez canal—a key transport route of Egypt connecting the Mediterranean—and the Red Sea.-VNA