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Vietnam, South Africa have potential for multifaceted cooperation

Vietnam and South Africa hold huge potential for boosting cooperation in many fields, including bringing bilateral trade turnover to two billion USD a year, said an official of the VCCI.
Vietnam, South Africa have potential for multifaceted cooperation ảnh 1Illustrative image (Source: VNA)

HCM City (VNA) – Vietnam andSouth Africa hold huge potential for boosting cooperation in many fields,including bringing bilateral trade turnover to two billion USD a year, said anofficial of the Vietnam Chamber of Commerce and Industry (VCCI).

Speaking at a seminar promoting SouthAfrica’s trade, investment and tourism held in HCM City on January 19, DeputyGeneral Director of VCCI’s Ho Chi Minh City branch Nguyen The Hung said themost promising field for bilateral partnership is mining and mining technology.

He added that Vietnam also wishes to workwith the African country in thermal electricity, automobile manufacturing andassembling and food processing, among others.

Currently, Vietnam’s major exports to SouthAfrica include mobile phones and components, computers, electronic devices,footwear, rice, pepper corns, cashew nuts, coffee and wood furniture.Meanwhile, the country imports plastic, garment-textile materials and leather,chemical products, metals, iron and steel.

Trade Counsellor at the South AfricanEmbassy in Vietnam Mat Matiwane said his country has been working to createoptimal conditions for businesses of the two countries to seek investment opportunities.He also voiced his hope that Vietnamese firms will enhance investment and tradeactivities in seafood, shipbuilding and especially tourism.

The major economic sector of South Africa ismining and exporting minerals, according to Matiwane. Besides, the country isstriving to develop trade, services and information technology, which couldserve as foundation for cooperation of the two countries’ enterprises.

Vietnam – South Africa trade turnoverincreased five times during the recent 10 years, from 192 million USD in 2007to 1.03 billion USD in 2016.-VNA

VNA
#Vietnam Chamber of Commerce and Industry #VCCI #Vietnamplus #Vietnam News Agency #bilateral partnership #trade turnover #bilateral trade #potential South Africa Vietnam
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