Apr 03, 2014 / 17:21

Strengthening trade tie between Vietnam and South Africa

The Hanoitimes - Sixteen South African businesses have shown interests in establishing partnership with Vietnamese partners in the fields of food, beverage, chemicals, information technology and machinery.

They attended a Viet Nam-South Africa trade and investment promotion conference in Ho Chi Minh City on March 27 by the Viet Nam Chamber of Commerce and Industry.

South Africa ranks first among the 10 African crucial export markets of Viet Nam with two-way trade turnover hitting nearly US$920 million in 2013, a year-on-year increase of 27%. 

Viet Nam mainly exports footwear, garment, coffee, rice, cashew, seafood, computers, electronics and accessories and imports iron and steel, metal, chemical substances, cotton, fibers and wine from South Africa.

Appraising the two nations’ trade relations, Kenneth Malatsi, a representative from the South African Department of Trade and Industry hopes that the two sides will strengthen their affiliation in potential fields in the future.