Benin, a potential market of Vietnam (Photo: VNA) Algiers (VNA) - The VietnamTrade Office in Algeria has introduced a 65-page handbook on doing businesswith Benin in a bid to equip Vietnamese enterprises with information on themarket and tips for successful transactions.
It was compiled by VietnameseTrade Counsellor Hoang Duc Nhuan, who is in charge of Algeria, Mali, Niger,Senegal, Gambia, and Sahrawi Arab Democratic Republic.
According to the handbook, Benin,owning the Port of Cotonou, one of the largest in West Africa, and a moderntransport infrastructure connected to big cities in the region, is a gatewayfor Vietnamese products to enter a market of over 390 million people. Benin andWest Africa are both having great demand for food and consumer products whichare strengths of Vietnam.
Nhuan said Vietnam and Benin supplement each other in trade.Vietnam boasts strengths in producing and exporting goods like rice, electronicdevices, steel, apparel and footwear, which are in demand in Benin. On theother hand, Benin’s strengths of cotton, cashew and timber match Vietnam’simport demand serving domestic industrial production.
According to the General Department of Vietnam Customs,trade between the two nations reached 121 million USD in 2019, up 8.2 percenton-year. Vietnam exported 21.9 million USD worth of rice, textiles, andmotorcycle accessories and others to this market while importing 99 million USD ofcashew and cotton, among others.
The diplomat highlighted that apart from trade, the BeninGovernment wants to boost investment cooperation with Vietnam in agricultural mechanisation,farm produce processing, health and technological transfer. To seize theopportunities, Vietnamese firms need to make more efforts to study the local market and demand, and seek trustworthy partnerships, he added./.
It was compiled by VietnameseTrade Counsellor Hoang Duc Nhuan, who is in charge of Algeria, Mali, Niger,Senegal, Gambia, and Sahrawi Arab Democratic Republic.
According to the handbook, Benin,owning the Port of Cotonou, one of the largest in West Africa, and a moderntransport infrastructure connected to big cities in the region, is a gatewayfor Vietnamese products to enter a market of over 390 million people. Benin andWest Africa are both having great demand for food and consumer products whichare strengths of Vietnam.
Nhuan said Vietnam and Benin supplement each other in trade.Vietnam boasts strengths in producing and exporting goods like rice, electronicdevices, steel, apparel and footwear, which are in demand in Benin. On theother hand, Benin’s strengths of cotton, cashew and timber match Vietnam’simport demand serving domestic industrial production.
According to the General Department of Vietnam Customs,trade between the two nations reached 121 million USD in 2019, up 8.2 percenton-year. Vietnam exported 21.9 million USD worth of rice, textiles, andmotorcycle accessories and others to this market while importing 99 million USD ofcashew and cotton, among others.
The diplomat highlighted that apart from trade, the BeninGovernment wants to boost investment cooperation with Vietnam in agricultural mechanisation,farm produce processing, health and technological transfer. To seize theopportunities, Vietnamese firms need to make more efforts to study the local market and demand, and seek trustworthy partnerships, he added./.
VNA
