Vietnam, Nigeria trade ties boosted

These took place during a visit by Nigerian officials and businessmen to Vietnam from April 19-23, 2009, which was organised and supported by the Nigeria-Vietnam Chamber of Commerce and Industry, the Vietnam Embassy and Trade Office in Nigeria. This is the second time since July 2008, Nigerian businessmen have visited and sought for business opportunities with Vietnamese partners.

Addressing the seminar in Hanoi, Deputy Minister of Industry and Trade Le Danh Vinh said that the trade volume between Vietnam and Nigeria has constanly increased in the past years, reaching over US $105 million in 2008, an increase of 50% over 2007. Vietnam’s main exports to Nigeria are garments,electronics, rubber and plastic products, footwears, building materials and fishery products, while Vietnam’s imports from Nigeria include raw cashew nut, cotton, and minerals. The results were yet to match the two countries’ potentials. This was the lack of information and lack of mutual-understanding among business partners as well as the trade promotion activities.     

At the seminars, Mr Sani Bako, Nigerian Charge D’ Affaire in Vietnam, said that Nigeria wished to expand its co-operation in trade and investment with Vietnam and affirmed that the Nigerian government would create favourable condition for Vietnamese investors to Nigeria.

According to Vietnamese Commercial Counsellor in Nigeria, Mr Pham Van Cong, the two countries had great potentials for co-operation in trade and investment. The Vietnam Trade Office would enhance trade promotion in localities in Nigeria and boosted activities to introduce Vietnam’s products to Nigerian customers and provide information about Vietnam’s trade and investment  policies for Nigerian businesses.

On this occasion, the two countries’ businessmen discussed potential areas for co-operation. Nigerian businessmen visited some companies and production workshops in Vietnam and some businesses have signed MoU for partnerships./.