Vietnam plans more exports to Africa and Mideast

Vietnam plans to increase exports to the Middle East and South Asia to US$2.3 billion this year, an increase of 33 percent compared to last year, according to the Ministry of Industry and Trade (MoIT).

Vietnam’s main exports to these areas include rice, coffee, textiles, garments, footwear, plastics, electronic appliances, seafood, tea, rubber, coal and timber.

In 2007, revenue from exports to the United Arab Emirates (UAE) grew to US$230.5 million, while exports to Turkey were valued at US$201.8 million.

MoIT set this year’s export revenue targets at US$326 million to the UAE, US$141 million to Egypt, US$299.8 million to Turkey, US$236 million to India and US$184.9 million to South Africa.

According to MoIT’s Department of African, Middle East and South Asian markets, Vietnam was considering importing quality and competitive goods such as petroleum and chemicals from Kuwait and Saudi Arabia, textiles and garments from India, and cottons and timber from nations in Africa.

In an effort to boost trade relations in these areas, the ministry proposed that a legal framework will be set up to include bilateral trade agreements, agreements for promotion and protection of investment, as well as a cooperation agreement on aviation and navigation.

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