South Africa is Vietnam’s biggest trade partner in Africa

Ms. Bui Thi Thanh An speaking at the event. (Photo: CPV)

The Ministry of Industry and Trade’s Vietnam Trade Promotion Agency, in association with South Africa’s Ministry of Industry and Trade, organized a conference to boost trade exchange between the countries in Ho Chi Minh city, on October 21^st.

Ms. Bui Thi Thanh An, Deputy Head of the Vietnam Trade Promotion Agency, said that Vietnam’s major products exported to South Africa are telephones, farm produce, coffee and spices, while the country mainly ships wooden products and iron-steel to Vietnam. In the first 9 months of 2019, two-way trade turnover totaled USD951 million.

She stressed that the Ministries of Industry and Trade of Vietnam and South Africa are organizing a series of exchange activities to create closer connection between the two economies, helping to expand markets for export products and taking advantages to add to the development needs of both sides.

In her speech at the event, Ms. Valentine Naidoo from South Africa’s Ministry of Industry and Trade said that over the past years, South Africa considered Vietnam a big and important trade partner. South African businesses assessed Vietnam as a potential market for cooperation and investment in areas in which the two sides have complementary advantages.

In addition, Vietnam is also an important gateway for South African goods to approach and penetrate Southeast Asian markets. 

For his part, Mr. Deshan Naidoo, Director of Factocode Microfinish Company, said Vietnam has a well-developed manufacturing industry and the demand of using supporting industrial products is increasing. Thus, many South African companies wish to establish cooperative relations with businesses in the supporting industry to develop production and distribution of products./.