Vietnam Exports to Africa Expected to Surge during World Cup: Ministry
Vietnam’s exports to Africa are expected to soar during the World Cup 2010, which will take place in South Africa for the first time from June 11 to July 11, a center of the Ministry of Industry and Trade said.
Footwear, apparel and hats will be the beneficiaries as weather in South Africa is very hot in June, pushing up consumption demand of foam rubber sandals, according to the MoIT’s industry and trade information center.
In the first half of May, Vietnam firms exported 15,000 pairs of footwear to South Africa with the majority of sport shoes worth $10/pair on average.
The Southeast Asian nation reported high export value surges of rice, apparel, footwear, coffee, bags and suitcases to South Africa in the first five months, the center added.
Vietnamese exports of electronics and home appliances, which have been sold well in Africa, are facing fiercer competition from Chinese and Indian ones, the center noted.
Vietnam targets to raise bilateral trade with Africa to $3 billion in 2010, including its export value of $1.8 billion.
The Southeast Asian nation has to date exported goods to all 53 African countries with its major markets of South Africa, Algeria, Angola and Egypt. (Capital Security)
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