Vietnam Boosting Exports to Middle East, Africa
Dozens of Vietnamese economists and exporters gathered at seminar on boosting exports to the Middle East and Africa held by the Ministry of Trade and Industry (MoIT) in Ho Chi Minh City June 10.
Trade ties between Vietnam and the Middle East and Africa have been expanding in the recent years, in which Vietnam always reports a trade surplus, the MoIT’s Head of the Africa-West Asia and South Asia Department Ly Quoc Hung said.
The Southeast Asian nation will organize more trade promotion programs and online conferences, and facilitate local businesses to open representative offices and branches in the two markets in the coming years.
Trade between Vietnam and the Middle East stood at $2.16 billion in 2009, including the Southeast Asian country’s exports of $1.13 billion.
Meanwhile, Vietnam fetched $1.56 billion from exported goods to African countries last year, up 20% on-year and imported $508 million.
Vietnam’s export staples to the two markets were computers and electronics, rubber, wood, handicrafts and farm produce while its main imports were oil and gas, plastic materials, fertilizers, chemicals and steel.
Vietnam targets to raise trade with Africa to $3 billion in 2010, including the country’s export value of $1.8 billion.
The Southeast Asian nation also aims to expand trade with the Middle East to $3.1 billion in 2010 and to $9.6 billion in 2015. (Vietnam & World Economy)
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