The Ministry of Industry and Trade (MoIT) will carry out a series ofextensive programmes to penetrate deeper into the African market inan effort to achieve a 20 percent growth in export turnover to thecontinent in 2011.
According to Ly Quoc Hung,Director of the MoIT’s African, West Asian and South Asian MarketsDepartment, trade promotions in Africa will focus on creatinglegislation and the way forward for business activities.
Top priority will be given to strengthening bilateral cooperation withvarious foreign countries, putting into action the outcomes ofinter-governmental committees meetings, reviewing the implementation ofsigned agreements and holding negotiations for the signing of newagreements.
Key trade promotion programmes willtarget Kenya and Egypt and the fibre markets in Mali and BurkinaFaso . The necessary conditions for businesses to join fairs andexhibitions will be introduced, including fairs in Senegal andAlgeria , a plastics fair in Morocco and an exhibition of Vietnamesegoods in Nigeria .
In addition, Vietnam willinvite delegations of African importers to participate in local fairsand exhibitions as well as meet Vietnamese exporters in Ho Chi MinhCity and Hanoi .
A project to promote thecapacity of businesses to speed up exports to Africa is considered abreakthrough as it defines nine major markets and three key groups ofcommodities, namely rice, garments and footwear.
According to the MoIT, Vietnam now has trade relations with 53African countries with the total export turnover to this market reachingover 2.1 billion USD in 2010, up 30 percent against the previous year.
Together with trade relations, Vietnamese-Africanindustrial cooperation has developed well. By the end of 2010, Vietnamhad begun many large-scale oil and gas exploration and exploitationprojects in Africa with a total investment capital of more than 360million USD.
Besides oil and gas, Vietnam has alsoimplemented a 800 million USD project to build a DAP fertiliser factoryin Morocco and a telecoms project in Mozambique. /.
According to Ly Quoc Hung,Director of the MoIT’s African, West Asian and South Asian MarketsDepartment, trade promotions in Africa will focus on creatinglegislation and the way forward for business activities.
Top priority will be given to strengthening bilateral cooperation withvarious foreign countries, putting into action the outcomes ofinter-governmental committees meetings, reviewing the implementation ofsigned agreements and holding negotiations for the signing of newagreements.
Key trade promotion programmes willtarget Kenya and Egypt and the fibre markets in Mali and BurkinaFaso . The necessary conditions for businesses to join fairs andexhibitions will be introduced, including fairs in Senegal andAlgeria , a plastics fair in Morocco and an exhibition of Vietnamesegoods in Nigeria .
In addition, Vietnam willinvite delegations of African importers to participate in local fairsand exhibitions as well as meet Vietnamese exporters in Ho Chi MinhCity and Hanoi .
A project to promote thecapacity of businesses to speed up exports to Africa is considered abreakthrough as it defines nine major markets and three key groups ofcommodities, namely rice, garments and footwear.
According to the MoIT, Vietnam now has trade relations with 53African countries with the total export turnover to this market reachingover 2.1 billion USD in 2010, up 30 percent against the previous year.
Together with trade relations, Vietnamese-Africanindustrial cooperation has developed well. By the end of 2010, Vietnamhad begun many large-scale oil and gas exploration and exploitationprojects in Africa with a total investment capital of more than 360million USD.
Besides oil and gas, Vietnam has alsoimplemented a 800 million USD project to build a DAP fertiliser factoryin Morocco and a telecoms project in Mozambique. /.
