Vietnam Biz Should Boost Exports to South Africa
The Vietnam Trade Office in South Africa has proposed local enterprises boost their exports of construction materials, agricultural machines, food and processed foodstuffs to the potential market.
The economies of Africa and South Africa are forecast to rebound during the 2010-2011 period in line with the world economy’s recovery.
South Africa’s plan on injecting nearly US$7 billion into public works and US$115.5 billion for infrastructure projects in the next three years will be a good opportunity for Vietnamese firms to boost their exports, the office noted.
Vietnamese businesses have also been advised to take full advantage of the national action program on enhancing Vietnam-Africa economic and trade ties being implemented by the Ministry of Industry and Trade from 2008 to 2010.
Vietnam targets to raise bilateral trade with Africa to US$3 billion in 2010, including the country’s export value of US$1.8 billion.
The country has to date exported goods to all 53 African countries with its key markets of South Africa, Egypt, Algeria and Angola. (CPV)
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