Vietnam, South Africa explore chances for stronger trade ties
Vietnam and South Africa boast substantial potential for expanding bilateral trade, Deputy Minister of Industry and Trade Phan Thi Thang told a seminar on economic cooperation in Pretoria on September 14.
Deputy Minister of Industry and Trade Phan Thi Thang addresses the seminar in Pretoria, South Africa, on September 14. (Photo: VNA)
Pretoria (VNA) – Vietnam andSouth Africa boast substantial potential for expanding bilateral trade, Deputy Minister of Industry and Trade Phan Thi Thang told a seminar oneconomic cooperation in Pretoria on September 14.
The event, held on the sidelines of thecelebration of the 30 years of bilateral diplomatic ties, attracted over 150participants from government agencies, localities, and enterprises of bothcountries.
In her remarks, Thang noted with satisfaction that Vietnam -South Africa relations have been making progress, creating a driving force for theireconomic and trade links.
She cited statistics as showing that bilateral trade was onthe rise during 2018 - 2022, topping 1.2 billion USD in turnovereach year.
Particularly, the two countries hold much potential forexpanding bilateral trade since their export structures are basically complementaryto each other. This is a favourable condition for their enterprises to consolidateand diversify supply chains, the Vietnamese official said.
South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina speaks at the forum. (Photo: VNA)
SouthAfrican Deputy Minister of Trade, Industry and Competition Nomalungelo Gina said she is impressed with the strongeconomic and trade development of Vietnam, and shared Thang’s view that the twomarkets are complementary to each other.
She also perceived that there remains huge potential foreconomic and trade partnerships, and called on both sides to exert stronger effortsto seek cooperation chances and connect their enterprises in such industries asautomobile, chemical, fertiliser, textile - garment, farm produce and foodprocessing, mining, timber processing, paper pulp, and pharmaceutical.
At the seminar, representatives of the two ministries,administrations of some South African localities like Mpumalanga andKwaZulu-Natal, and enterprises of the countries looked into cooperationpotential and opportunities in trade, industry, energy, and pharmaceutical production.
On September 13, the delegation of Vietnamesebusinesses had meetings with some South African partners to discuss partnerships./.
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Deputy Minister of Industry and Trade Phan Thi Thang addresses the seminar in Pretoria, South Africa, on September 14. (Photo: VNA) 
South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina speaks at the forum. (Photo: VNA) 
