Vietnam, South Africa to Boost Trade & Investment

The Vietnam Chamber of Commerce and Industry (VCCI) and the South African Embassy in Hanoi on June 20 jointly held a seminar on Vietnam-South Africa trade and investment promotion in Central Danang City to help Vietnamese businesses penetrate the South African market. Nearly 100 businesses attended the seminar.

 

Calvin Tshidavhu, first Secretary of the South African Embassy, said that South Africa remains a potential market for Vietnamese businesses. He also said Vietnam and South Africa could promote cooperation in agriculture, in which, Africa will provide products for Vietnam's food processing industry and import tropical farm produce from Vietnam.

 

The representative of the South African Embassy also spoke about the mining industry, a strength of South Africa, and other potential areas for the two countries' cooperation including farm produce processing, fisheries, telecoms and the electronic industry.

 

Vietnam and South Africa officially established diplomatic relations in December 1993. Trade between Vietnam and South Africa in 2005 reached US$250 million, up 66.67 per cent against 2004.