Vietnam will take a wide range of measures to promote exports to the Middle East and African markets in the coming time.
Accordingly, trade promotion activities such as exhibitions, fairs, workshops and online meetings will be organised to help Vietnamese enterprises access and set up partnership with foreign firms.
The Ministry of Industry and Trade is also building an action plan to boost ties with the Middle East in the coming time.
Statistics show that Vietnam’s trade with Africa saw a distinct growth in recent years.
Vietnam’s exports to the region surged up to 1.423 billion USD from only 767.6 million USD in 2010. In the first four months of this year, Vietnam’s exports to Africa went up 14.1 percent with strong growth recorded in those to South Africa, Egypt, Algeria, Nigeria and Ghana.
Vietnam’s main exports to Africa and the Middle East are computers, electronics and spare parts, footwear, construction material, and farm and aquatic products.
According to experts from the Africa, West and South Asia Markets Department under the ministry, the two regions are considered as potential export markets for Vietnam.
Experts said that despite the opportunities, a lack of information about each other as well as differences in culture, religion, and business practices have prevented trade with the two regions from fulfilling their potential.
Le Thai Hoa, deputy head of the department said, there are still risks facing Vietnamese companies while doing business with overseas partners from these markets, including payment issues.
To avoid this, they should ask Vietnamese diplomatic agencies or commercial affairs delegates abroad to support them in checking payment processes, especially with large-value contracts.
Since each country in the two regions has its own import regulations, enterprises should study the markets carefully, experts said.-VNA
Accordingly, trade promotion activities such as exhibitions, fairs, workshops and online meetings will be organised to help Vietnamese enterprises access and set up partnership with foreign firms.
The Ministry of Industry and Trade is also building an action plan to boost ties with the Middle East in the coming time.
Statistics show that Vietnam’s trade with Africa saw a distinct growth in recent years.
Vietnam’s exports to the region surged up to 1.423 billion USD from only 767.6 million USD in 2010. In the first four months of this year, Vietnam’s exports to Africa went up 14.1 percent with strong growth recorded in those to South Africa, Egypt, Algeria, Nigeria and Ghana.
Vietnam’s main exports to Africa and the Middle East are computers, electronics and spare parts, footwear, construction material, and farm and aquatic products.
According to experts from the Africa, West and South Asia Markets Department under the ministry, the two regions are considered as potential export markets for Vietnam.
Experts said that despite the opportunities, a lack of information about each other as well as differences in culture, religion, and business practices have prevented trade with the two regions from fulfilling their potential.
Le Thai Hoa, deputy head of the department said, there are still risks facing Vietnamese companies while doing business with overseas partners from these markets, including payment issues.
To avoid this, they should ask Vietnamese diplomatic agencies or commercial affairs delegates abroad to support them in checking payment processes, especially with large-value contracts.
Since each country in the two regions has its own import regulations, enterprises should study the markets carefully, experts said.-VNA
