Vietnam, South Africa to double bilateral trade value
The Governments of Vietnam and South Africa have set to double bilateral trade value through increasing the sale of staples of their strength.
Accordingly, South Africa will boost shipments of coal, beef and fruits to Vietnam, while the Southeast Asian nation will step up the export of rice, seafood, electronic products, computers and construction materials to the country.
To realise the goal, Vietnam’s designated trade office in South Africa will lend a helping hand to domestic businesses in market research, especially knowledge about retail groups in South Africa and its neighbouring countries.
At the same time, it will assist Vietnamese businesses to engage in the value chain in South Africa and directly set up links with local retailers.
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In 2015, the office assisted domestic businesses’ participation in the South African International Trade Exhibition (SAITEX) in 2015 and organised a meeting for the two countries’ businesses in Cape Town during Deputy Prime Minister Hoang Trung Hai’s visit.
It also coordinated with overseas Vietnamese businesses to put Vietnamese tra fish on menu of Sai Gon Cape Town Restaurant based in the host country.
In the first six months of 2015, bilateral trade between Vietnam and South Africa reached nearly US$700 million.
Vietnam expects to earn US$1.2 billion worth of goods sold to South Africa this year.
