Vietnam to Resume Trade Ties with Côte d'Ivoire

Trade ties between Vietnam and Côte d'Ivoire will soon be resumed after a period of break caused by political crisis, said the Africa, West and South Asia Market Department under the Ministry of Industry and Trade.

 

In addition, the European Union (EU) also lifted the embargo, helping the Côte d'Ivoire economy to work normally again. The country’s main seaports like Abidjan and San Pedro have been reopened and Côte d'Ivoire companies have their assets unfrozen by the EU.

 

The department said Vietnamese companies should quickly prepare for the return to this market.

 

According to the Vietnamese General Department of Customs, Vietnam's exports to the Côte d'Ivoire fell 50 percent year on year to US$11 million in two months of this year. Imports from the African country slumped 40 percent year on year to US$4 million.

 

In 2010, despite continued impact of the global financial crisis, bilateral trade revenue still climbed. Vietnam earned US$133 million exports to Côte d'Ivoire and spent US$129 million on imports there.

 

Côte d'Ivoire is one of Vietnam’s leading trading partners in Africa. Main exports of Vietnam to this market include rice, textiles, plastic materials, iron and steel while it mainly imports raw cashew nuts, cotton, timber, wooden products and steel scrap from Ivory Coast.