Vietnam, Gabon seek to strengthen economic, trade links

The meeting between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Gabonese Minister of Trade Yves Fernand Manfoumbi in Hanoi on March 23. (Photo: VNA)

Hanoi (VNA) – Vietnamhopes Gabon will act as a bridge helping it expand trade ties with other countriesin Central Africa, and that the two sides will boost connections in the industriesthey have strength in, Minister of Industry and Trade Nguyen Hong Dien hassaid.

He made the remark during ameeting on March 23 with Gabonese Minister of Trade Yves Fernand Manfoumbi, who is joining a visiting economic andtrade delegation of the International Organisation of La Francophonie (OIF) ledby OIF Secretary-General Louise Mushikiwabo.

Dien citedstatistics as showing that bilateral trade stood at around 63.5 million USD in2021, up 22 percent from the previous year. That included 17.6 million USD worth of Vietnamese exports to and 45.9 million USD worth of imports from Gabon.

Despite the trade growth, therevenue has yet to match the two sides’ potential, he noted, adding thatVietnam ships mainly rice, plastic products, seafood, fruits and vegetables toGabon while buying timber, wood products, ores, and minerals from the latter.

To tap into the two countries’potential and enhance their economic - trade links, the Vietnamese ministercalled for increased all-level mutual visits and optimal conditions for businessesto directly meet each other when possible.

He also suggested Gabonprioritise importing rice, medical supplies like face masks and personal protectiveequipment, and other products from Vietnam.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien (L) and Gabonese Minister of Trade Yves Fernand Manfoumbi exchange the signed letter of intent on economic and trade cooperation at the meeting on March 23. (Photo: VNA)

Speaking highly of Gabon’s richnatural resources such as oil and manganese, Dien said this is an opportunityfor the two countries to tighten trade and investment ties, and thatstronger partnership with the African nation also matches Vietnam’s policy ofdiversifying export - import markets and material supply sources for domestic manufacturing.

The Vietnamese Ministry ofIndustry and Trade will encourage enterprises to consider cooperation withGabonese partners in such fields as oil and gas, food, textile - garment,leather - footwear, and mining industries, he added.

For his part, Manfoumbi invited the Vietnamese minister andenterprises to visit Gabon in July to explore cooperation and investment opportunitiesin the areas his country is prioritising.

He alsounderlined the necessity to activate cooperation activities at this point oftime to help both countries gain more momentum for post-pandemic economic recoveryand development.

At the meeting, the officialsagreed to assign personnel in charge of discussing detailed coordination plans,including the possibility of signing a memorandum of understanding on theestablishment of a joint working group.

The two ministers also inkeda letter of intent on economic and trade cooperation between their ministries./.

VNA