Within the framework of the 54th Cairo International Fair taking place from September 30 to October 8, a trade promotion workshop was held with the theme "Vietnam - Egypt: Industrial products and potential fields of cooperation" to promote and introduce Vietnam's image and key products to Egyptian importers.
At the trade promotion workshop (Photo: congthuong.vn)
The workshop attracted the attention of many importers for a wide range of products from the manufacturing industry such as car components and accessories, truck tires and shaped aluminum to agricultural products and seafood such as rice, tea, coffee or canned tuna. Vietnamese products are highly appreciated by Egyptian business for their quality and many importers wish to soon be able to come to Vietnam to discuss directly with partners about cooperation proposals.
Vietnam and Egypt are two countries with traditional friendship and cooperation, as Egypt was one of the first Arab countries to establish relations with Vietnam. Economic and trade relations between the two countries were also formed early and many cooperation agreements and memorandums of understanding were signed.
As a fast and strongly developing country in the region, Vietnam has great potential. Meanwhile, Egypt is considered a key market in the Middle East and North Africa region by multinational companies.
Egypt is also currently one of the most important trade partners and a potential market of Vietnam in North Africa. According to statistics from Vietnam Customs, two-way turnover between Vietnam and Egypt in 2020 reached USD515 million, up 4.8% compared to 2019. In the first 6 months of 2021, despite the influence of the COVID-19 pandemic, Vietnam's export turnover to Egypt still reached USD238.7 million, up 11.4% over the same period in 2020.
In the coming time, Vietnam and Egypt will have many opportunities to cooperate in the fields of electricity, textiles, chemicals, automobiles, building materials, telecommunications, and logistics. The Egyptian side is currently developing large-scale infrastructure, including the Suez Canal Economic Zone (SCZ) to serve future trade and production cooperation agreements. Vietnam and Egypt can cooperate in a three-party model to take advantage of SCZ. Materials and components from Vietnam can be used to manufacture products at SCZ before exporting to third countries that have trade agreements with Egypt./.