Vietnamese Deputy Minister of Industry and Trade Cao Quoc Hung (front, left) and South African Deputy Minister of Trade and Industry Fikile Majola (front, right) at the session in Hanoi on October 16 (Photo: moit.gov.vn) Hanoi (VNA) – The Vietnam – SouthAfrica joint trade sub-committee convened the fourth session in Hanoi onOctober 16 to seek ways to bolster bilateral economic and trade partnerships.
Vietnamese Deputy Minister of Industry and TradeCao Quoc Hung said the two countries share many similarities in agriculturalproduction, but they still have their own strengths that are complementary toeach other.
He suggested both sides increase cooperation inthe trading of agricultural products, calling on South Africa to soon open itsmarket for Vietnam’s farm produce such as processed chicken, honey, dairyproducts, dragon fruit, lychee, longan, rambutan and star apple.
Hung also asked South Africa to facilitate thedistribution of Vietnamese agricultural and aquatic products through itsmultinational supermarket chains like Makro, Metro and Woolworth, and itsdomestic supermarket systems like Spar, Checkers and Supespa.
Additionally, the official asked the twocountries to enhance ties in supporting industries, energy and small- andmedium-sized enterprise development, as well as within multilateral tradeframeworks.
Speaking highly of Vietnam’s economic and tradedevelopment potential, South African Deputy Minister of Trade and IndustryFikile Majola affirmed that his country considers Vietnam an important partnerin Southeast Asia.
He asked the two sides to continue workingclosely together in carrying out measures to strengthen their friendship andeconomic, trade and investment relations.
He also expressed his hope that Vietnam willopen its market to some agricultural products of South Africa, which is alsoready to supply coal for thermal power plants in Vietnam.
At the session, participants discussed measuresto remove bottlenecks and create more optimal conditions for trade, investmentand business partnerships. They looked into solutions to boost the twoeconomies’ connectivity, expand markets for each other’s goods, and capitaliseon their strengths and resources to help with each country’s development.
To promote trade, the officials agreed toincrease the exchange of information and business delegations.
Vietnam asked South Africa to assist it inorganising a Vietnamese goods week in Johannesburg in the near future. It alsoannounced that a delegation of Vietnamese enterprises will attend the SAITEXand Africa’s Big 7 trade show in South Africa in June 2020.
Regarding industrial cooperation, the Vietnameseside hoped to reinforce ties in tanning, automobile component and spare partmanufacturing, and participate in international industrial expos in SouthAfrica such as Source Africa, Automechanika Expo and Futuroad Expo.
The Southeast Asian nation asked South Africa toboost cooperation in wind turbine equipment manufacturing. It also expressedthe intention to supply some medical equipment for South Africa, the biggestimporter of medical equipment in Africa.
According to the Vietnamese Ministry of Industryand Trade, South Africa is currently the biggest trade partner of Vietnam inAfrica. Bilateral trade grew from over 700 million USD in 2012 to more than 1billion USD in 2018. The figure reached 951 million USD in the first ninemonths of 2019, with Vietnam recording trade surplus./.
VNA
