Vietnam eyes stronger trade, investment cooperation with South Africa
Vietnamese Ambassador to South Africa Hoang Van Loi (R) at the seminar (Photo: VNA)
Vietnamese Ambassador to South Africa Hoang Van Loi has led a delegation of Vietnamese representative agencies in South Africa to attend a seminar on ASEAN investment held by the Department of International Relations and Cooperation (DIRCO) of South Africa and the Northern Cape provincial government in Kimberley city.
This an initiative of the ASEAN Committee in Pretoria and is the first seminar on ASEAN investment organised in a South African locality. It also opened a series of events to explore opportunities for investment and trade cooperation between ASEAN member countries and South Africa in general and the Northern Cape province in particular.
In his speech, Ambassador Loi briefed participants on Vietnam’s socio-economic development, major development orientations, as well as potential and opportunities to strengthen economic, trade, investment and tourism relations between Vietnam and South Africa.
He stressed Vietnam's huge demand for importing raw materials and materials for production, especially mining products such as coal and iron ores.
The development of clean energy sources is a potential area between Vietnam and Northern Cape, the Vietnamese diplomat added.
Bilateral trade activities between Vietnam and South Africa will be organised in the coming time, he said, noting that the embassy plans to arrange a number of business delegations from Vietnam to South Africa to seek cooperation opportunities in trade and investment.
Loi said the embassy and the Vietnam trade office in South Africa will make every effort to connect business communities of the two countries, and is ready to provide information and maximum support for South African businesses in general and those in Northern Cape in particular in trade cooperation with Vietnam, towards lifting the two-way trade to 2 billion USD before 2025.
Meanwhile, Deputy Minister of International Relations and Cooperation Alvin Botes emphasised this conference is a practical demonstration on how South Africa perfects its foreign policy, especially in South-South cooperation.
According to Botes, South Africa's largest trading partners in ASEAN are Thailand, Vietnam, Indonesia and Singapore. South Africa mainly exports chemicals, ores, iron and steel to; and imports textiles, footwear, electronics, petrochemical products, auto parts, palm oil and some agricultural products from Southeast Asian countries.
He said the signing of South Africa's accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC) has paved the way for the promotion of closer economic relation and friendship between South Africa and ASEAN./.
Related News
Bright spots at the beginning of the year
10:51 | 23/03/2024 Headlines
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
Vietnam experiences a trade surplus of over US$11 billion in two months
13:47 | 15/03/2024 Import-Export
The Minister of Finance chaired the Vietnam - Korea Financial Investment Promotion Conference
09:50 | 11/03/2024 Finance
Latest News
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
More News
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
More than 300 businesses, manufacturers to attend VGMF 2024
15:55 | 26/03/2024 Import-Export
Connecting with FDI firms helps boost wood exports: insiders
15:52 | 26/03/2024 Import-Export
Doosan Vina exports nearly 2,000 tonnes of modules to US
15:51 | 26/03/2024 Import-Export
Wood processing enterprises strive to increase the proportion of individually designed goods
09:50 | 26/03/2024 Import-Export
Take advantage of shrimp export opportunities right from early year months
15:53 | 25/03/2024 Import-Export
Your care
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export