Businesses will introduce potential export products to the two markets, such as rice, other agricultural products, garments, motorbikes and spare bike parts, materials, tapioca, optical fibre cable, cotton, cashew nuts, wood, and scrap steel.
During their stay, the Vietnamese delegation will work with their African counterparts at the Ministries of Trade and Industry and the Chambers of Commerce and Industry to organize seminars on promoting exports.
The Vietnamese delegation will also discuss the import of cotton, cashew nuts, wood, and scrap steel from Senegal, as well as signing a memorandum of understanding on commercial rice with the West African nation. They will find ways to help Vietnamese businesses sign direct contracts with Senegalese partners to export rice, open warehouses in Senegal and gain a deeper understanding of the distribution network in each of the two countries.
The MoIT reported that Vietnam’s export value to Senegal has remained high in recent years. It increased by 311 percent in the first eight months of this year to approximately US$178 million, making Senegal Vietnam’s second largest market in Africa, after South Africa. Major exports are rice, garments, computers, electronics and spare parts.
Sierra Leone is a hugely promising potential market. Vietnam currently exports rice, tobacco, fuel oil and garments to the country, while imports include scrap steel, and wood and timber products.
Vietnam’s export value to the country reached an encouraging US$28.8 million in the first half of this year.