Vietnam, Tunisia strive to enhance trade exchanges

Le Hoang Tai, deputy director general at Vietnam Trade Promotion Agency (Vietrade), affirmed that although Vietnam is striving to play an important role in the global supply chain, a number of Tunisian enterprises have little information about the capacity of their Vietnamese firms.

Tai noted that the event will allow local businesses to introduce import and export prospects for their agricultural products, seafood, and beverages to Tunisian consumers, along with potential customers in the African market as a whole.

In response, Najeh ben Abdesalem, vice president of the Tunisian Chamber of Commerce and Industry, said the teleconference provided an ideal venue in which businesses could promote trade exchanges, adding that Tunisia represents an important gateway for Vietnamese enterprises and foreign investors to penetrate Africa's vast market.

With a population of more than 1.25 billion people, there are major prospects ahead throughout the continent, with North Africa in particular having plenty of prospects, especially countries such as Algeria and Libya.

It was reported at the event that two-way trade exchanges between both countries remains modest at only US$65 million annually. The two sides were therefore advised to increase their exchange of trade delegations and actively participate in forums, trade fairs and exhibitions in the near future.

According to the General Department of Vietnam Customs, trade turnover between Vietnam and Tunisia in 2019 stood at only US$36.2 million, of which Vietnam exported goods worth US$21.4 million, mainly coffee, peppers, cashew nuts, seafood, machinery and equipment, tools and spare parts, along with garments and textiles.

Meanwhile, Tunisia’s key exports to the Vietnamese market include seafood, chemicals, machinery and equipment, plastics, garments and textiles, in addition to animal feed and raw materials.

Hoang Duc Nhuan, Vietnamese Trade Councilor in Algeria, underlined the need to disseminate market information, organise seminars, forums, and international trade fairs like Vietnam Expo or Vietnam Food Expo in order to boost connectivity among businesses via both direct and online platforms in order to boost trade exchanges.

He also suggested bringing into full play the meeting of the Vietnam-Tunisia intergovernmental committee, fine-tuning the legal framework by signing an Investment Promotion and Protection Agreement, a Memorandum of Understanding (MOU) on co-operation between Vietrade and the Tunisian Center for Export Promotion (CEPEC), and setting up business councils in both countries.