Vietnam, South Africa promote trade, tourism

The event, held by the Vietnam Chamber of Commerce and Industry, the provincial People’s Committee and South African Embassy in Vietnam, also detailed business opportunities in Africa.

To elevate cooperation between two countries, managers, experts and enterprises discussed measures to enhance international relations, trade and investment and introduced potential projects and favourable policies to attract investment.

Vice Chairman of the provincial People’s Committee Tran Thanh Liem said that the two sides should promote the trading of wood, garments, leather shoes and handicraft products while exploiting South Africa’s potential in wood materials, cotton fibre and steel.

Vietnam is currently a leading strategic partner of South Africa in Southeast Asia. In the past decade, bilateral trade rose from US$192 million in 2007 to US$920 million in 2013.

Last year, two-way trade stood at US$1.1 billion, with Vietnam’s exports accounting for US$1 billion.