The Middle East and African regions have potential for developing economic, trade and industrial cooperation with Vietnam, according to an official of the Ministry of Trade and Industry at a seminar on trade and relations with the Middle East and Africa on July 31.
Last year, the two-way trade turnover between Vietnam and the Middle East hit US$1.19 billion while trade with African countries increased to more than US$1 billion, up from US$15.5 million in 1991.
Vietnam’s exports also increased its exports to US$700 million in the Middle Eastern last year, an annual rise of 17.2 percent and to US$684 million in Africa, a year-on-year increase of 12 percent.
Business delegates at the seminar said that the lack of information about the Vietnamese market and their partners made it difficult for them to do business in Vietnam.
The Ministry of Trade and Industry plans to send a trade mission to Arab Saudi in early December.
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