Vietnam enjoys trade surplus with Egypt

Overall trade turnover between Vietnam and Egypt currently stands at over US$470 million annually and hit US$390 million during the first 10 months of the year, leaving Vietnam to enjoy a trade surplus with Egypt.
vietnam enjoys trade surplus with egypt

At the event

The information was revealed during a trade promotion conference between the two nations held in the Egyptian capital of Cairo on December 2 with several import-export businesses from both countries attending.

During the seminar, business representatives stated that despite great potential for bilateral trade, the current level of trade turnover between the two countries remains low with the country’s key export items to Egypt being agricultural products, machinery and electronic equipment, textiles, and seafood products.

In return, Vietnam's major imports include fertilisers, plastic materials, textile materials, and milk from Egypt.

Participants pointed out that each side needs to be proactive in seeking partners, attending seminars and trade fairs, as well as strengthening direct exchanges among import and export businesses in a bid to meet the increasing market demand and fully utilise each nation’s strengths.

According to business representatives in attendance, there exists plenty of opportunity for co-operation in such fields as tourism, oil, gas, and banking.

The Egyptian Businessmen Association stated that the conference provided an excellent opportunity for businesses from both countries to promote bilateral trade exchanges, share information, and propose solutions aimed at supporting businesses.

The Egyptian Businessen Association expressed their belief that the two-way trade turnover will increase sharply in the near future.

Source: VNA

Related News

Vietnam and China promote Customs cooperation

Vietnam and China promote Customs cooperation

VCN - The representative of Vietnam Customs and the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Vietnam exchanged the Action Plan between the General Department of Vietnam Customs (GDVC), the Ministry of Finance of the Socialist Republic of Vietnam and the General Administration of Customs of the People's Republic of China (GACC) on the Mutual Recognition Agreement on Authorized Economic Operator of Vietnam Customs and the Enterprise Credit Management Program of China Customs, on October 13, 2024, at the Government headquarters.
Maximum effort for Customs headquarters project at Long Thanh airport

Maximum effort for Customs headquarters project at Long Thanh airport

VCN - The fact that Long Thanh International Airport project is accelerating its construction progress requires the implementation of the customs headquarters project here to be implemented more quickly to catch up with the airport's operational progress in early 2026. The General Department of Customs and its departments and bureaus are urgently implementing work contents to ensure the project to be completed in time with the airport's progress.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2024

The Vietnam Customs Statistics announced that in the second half of August, 2024 the total Vietnam’s exports of US dollars 20.73 billion and imports of nearly US dollars 17.29 billion resulted in a trade surplus of US dollars 3.45 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in August of 2024, a 2.0% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of July 2024. Exports went up 4.3 %, to USD 37.79 billion and imports decreased 0.4%, to USD 33.74 billion in terms of month-on-month basis. As a result, there was a USD 4.05 billion surplus in Vietnam’s trade balance in this month.

Latest News

Shrimp exports bring home nearly 2.8 billion USD in nine months

Shrimp exports bring home nearly 2.8 billion USD in nine months

Vietnam's shrimp export turnover is estimated at nearly 2.8 billion USD in the first nine months of this year – the highest among aquatic products, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities

Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities

VCN- According to Yuanta Securities Company, from now until the end of the year, Vietnam's import and export enjoys many favorable macro factors to recover and accelerate. Many industries will benefit from this momentum such as rubber, textiles, seafood, seascapes, etc.
Seafood exports soar to new heights in the third quarter

Seafood exports soar to new heights in the third quarter

VCN - Seafood exports in the third quarter of this year reached US$2.76 billion, up nearly 13% over the same period last year. This is a peak after 4 years of disruption due to the Covid-19 pandemic.
Understand businesses and markets to expand cooperation opportunities with the United States

Understand businesses and markets to expand cooperation opportunities with the United States

VCN - The demand for shifting supply chains of US corporations is huge. Understanding the needs, standards and working methods of corporations will help Vietnamese enterprises have the opportunity to gain a larger market share in this wave.

More News

Linkage - the "key" to sustainable development of agricultural value chains

Linkage - the "key" to sustainable development of agricultural value chains

VCN - Promoting sustainable and effective development of agricultural value chains is a core factor in restructuring Vietnam's agricultural sector and the key to optimize the value of Vietnam's agricultural exports.
Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it requires enterprises to meet international standards.
Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

An exhibition showcasing Vietnam’s distinctive farm produce exported to China opened in Hanoi on October 13, featuring the participation of 16 local enterprises and introducing over 50 categories of high-quality products from across the three regions of the country.
100 most valuable Vietnamese brands on the limelight

100 most valuable Vietnamese brands on the limelight

This year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.
Need to quickly act to catch up with the "green" trend

Need to quickly act to catch up with the "green" trend

VCN - With the movement from the global level to Vietnam's main markets, as well as the strong commitment of the Vietnamese Government, the trend of "compulsory green/sustainable transformation" has become clear to Vietnamese businesses instead of voluntary as before. However, the level of readiness of businesses is not high.
Businesses cooperate to develop advanced technology

Businesses cooperate to develop advanced technology

VCN- In order to foster development of the high-tech sector, one of factors is close cooperation between businesses to improve competitiveness and promote innovation.
Export target for 2024 set at US$400 billion

Export target for 2024 set at US$400 billion

VCN - Since the beginning of the year, Vietnam's export activities have continued to recover. It is forecasted that the total export turnover for the entire year may reach a historic milestone of US$400 billion.
Thai Binh intensifies cooperation with Russian localities

Thai Binh intensifies cooperation with Russian localities

A delegation from the northern province of Thai Binh, led by Chairman of the provincial People’s Council Nguyen Tien Thanh, on October 10 met with representatives of the Moscow Chamber of Commerce and Industry, along with several Russian businesses.
Ho Chi Minh City partners with nine provinces to boost import and export activities

Ho Chi Minh City partners with nine provinces to boost import and export activities

VCN - Ho Chi Minh City (HCMC) and nine provinces in the northern and north-central regions are cooperating in socio-economic development, leveraging each region's advantages and potential to boost import and export activities.
Read More

Your care

Latest Most read
Shrimp exports bring home nearly 2.8 billion USD in nine months

Shrimp exports bring home nearly 2.8 billion USD in nine months

Vietnam's shrimp export turnover is estimated at nearly 2.8 billion USD in the first nine months of this year – the highest among aquatic products, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities

Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities

VCN- According to Yuanta Securities Company, from now until the end of the year, Vietnam's import and export enjoys many favorable macro factors to recover and accelerate. Many industries will benefit from this momentum such as rubber, textiles, seafood,
Seafood exports soar to new heights in the third quarter

Seafood exports soar to new heights in the third quarter

Seafood exports in the third quarter of this year reached US$2.76 billion, up nearly 13% over the same period last year. This is a peak after 4 years of disruption due to the Covid-19 pandemic.
Understand businesses and markets to expand cooperation opportunities with the United States

Understand businesses and markets to expand cooperation opportunities with the United States

VCN - The demand for shifting supply chains of US corporations is huge. Understanding the needs, standards and working methods of corporations will help Vietnamese enterprises have the opportunity to gain a larger market share in this wave.
Linkage - the "key" to sustainable development of agricultural value chains

Linkage - the "key" to sustainable development of agricultural value chains

Promoting sustainable and effective development of agricultural value chains is a core factor in restructuring Vietnam's agricultural sector and the key to optimize the value of Vietnam's agricultural exports.
Mobile Version