Vietnam - Africa Business Forum: Boosting Vietnam - Africa Bilateral Trade

 

Vietnamese visitors will meet with importers from 14 Western and Central African nations to establish direct business contacts and reduce intermediary stages. This programme will be hosted by International Commercial Centre, Francophone International Organisation (OIF), and Nigeria - Vietnam Chamber of Commerce and Industry. This information was released by the Vietnam Chamber of Commerce and Industry (VCCI) at a six-month review meeting on Vietnam - Africa business forum.

 

According to experts, the business forum has spared no effort to accelerate bilateral trade activities between Vietnam and African countries.

 

According to the International Relations Committee and VCCI, the forum has provided much information to serve enterprises and managers and to maintain Vietnam - Africa e-commerce portal (www.vinafrica.com). The portal regularly updates information, develops e-portal members and persuades more Vietnamese and African enterprises to join the portal, which also introduces many business opportunities. Many enterprises reportedly signed business deals through contacts on the portal.). The portal regularly updates information, develops e-portal members and persuades more Vietnamese and African enterprises to join the portal, which also introduces many business opportunities. Many enterprises reportedly signed business deals through contacts on the portal.

 

Additionally, the forum has released four bulletins on Vietnam - Africa Business Forum which covers daily needs of enterprises. The bulletins were delivered to forum members, trade promotion units, industry associations, research institutes and other entities.

 

The forum arranged the reception of high-ranking officials from Ethiopia Chamber of Commerce to visit, study, and organise management experience of VCCI. The visitors worked with branches and representative offices and visited enterprises and industrial parks in Hai Phong and Thanh Hoa provinces. On this occasion, VCCI and Ethiopia Chamber of Commerce signed an agreement on expanding the two-way trade and investment relations.

 

At the visit of Mozambique Minister of Foreign Affairs and Cooperation, the forum coordinated with the Mozambique Embassy in Beijing, China, and the Africa - Southwest Asia Department under the Vietnamese Ministry of Industry and Trade to organise a seminar on investment and trade opportunities between Vietnam and Mozambique in Hai Phong in early April 2009. Through this conference, concerned enterprises understood more about investment and trade policies in Mozambique to map out business strategies to penetrate this country in particular and Africa as a whole.

 

Particularly, following the success of the first Vietnam- Nigeria Investment and Business Forum held in Hanoi and Ho Chi Minh City in October 2008, the Nigeria - Vietnam Chamber of Commerce and Industry organised a visit for nearly 40 Nigerian enterprises to Vietnam. On this occasion, the second Vietnam- Nigeria Investment and Business Forum was opened in Hanoi and Ho Chi Minh City in April 2009. Many Nigerian enterprises continued attending the second forum after the first presence last year. In fact, the first Vietnam- Nigeria Investment and Business Forum helped boost the Vietnam - Nigeria two-way trade revenue to US$105 million in 2008, an impressive increase of US$55 million compared with 2007.

 

Many business contracts were reportedly signed during the second forum, mainly involving pharmacy, maritime, oil and gas, minerals, textiles, woodwork, farm produce, foods and cement.

 

VCCI said many enterprises especially rice, medicine and apparel exporters and cotton and timber importers wanted more information to penetrate African markets. In 2008, exports from Vietnam to Africa soared to 95 % year on year to US$1.33 billion. Vietnamese goods have initially deepened their roots in African markets and won the trust of African consumers. Vietnam has exported to all 53 countries in the black continent.

 

According to VCCI, in the coming time, apart from organising a meeting for apparel importers and exporters in Cotonou, Benin in December 2009, the forum has coordinated with the South African Embassy in Vietnam to hold a seminar on investment and trade opportunities for Vietnamese in Da Nang City on July 23, 2009 and in Ho Chi Minh City in the fourth quarter of 2009. VCCI wll receive Sudanese Foreign Minister’s delegation and enterprises visiting and working in Vietnam, and organise Vietnam - Sudan Business Forum in October 2009. In addition, the forum also contacts with trade promotion organisations in African countries to popularise business practices, customs procedures, etc. to Vietnamese enterprises.

 

Africa is a potential market for Vietnam’s exporters, stated VCCI. Exports to Africa play a very important role in expanding trade revenue since the global economic slump has shrunk its traditional markets. The development of Vietnam-Africa Forum is necessary.