Vietnam-South Africa Relations Reaching Greater Heights

Africa and South Africa - Potential markets for Vietnamese exports

Africa and South Africa in particular are still relatively new markets for Vietnamese enterprises for the following reasons.

Firstly, Africa and South Africa in particular own many advantages such as peace, political stability, abundant natural resources, large consumption of goods, and a lot of development opportunities.

Secondly, Africa and South Africa are open markets for all

Thirdly, Vietnam has good political relations with most African countries

Finally, Africa including South Africa, with over 800 million people, has big purchasing power therefore Vietnam’s products are in demand, especially major exports such as aquatic and agricultural products, processed foodstuff, canned food, garment and textile products, handicrafts, consumer goods, electronic products and pharmaceutical products.          

However, the bilateral trade still faces hindrances such as long geographic distances, a lack of market information, and payment and transport procedures. As a result, it constrains the potential and business opportunities in the African and South African markets.

 

The working visit of Vietnam’s delegation to South Africa on November 7-16, 2005, is being organised by the Vietnam Chamber of Commerce and Industry (VCCI), in cooperation with the ministries of Trade, Planning and Investment, Foreign Affairs, Culture and Information, and the Vietnam National Administration of Tourism, with the participation of around 70 people from enterprises, the Leather and Footwear Association, the Ministry of Defence and the above ministries. The delegation also comprises lecturers and experts from the National Economic University led by Headmaster Nguyen Van Thuong with the aim of surveying African countries to serve the study on solutions to boost the development of Vietnam-Africa trade relation.

 

The visit includes the participation in ASEAN Exports Fair 2005 (ASEANTEX 2005) on November 10-13, and the Vietnam-South Africa Business Forum in Johannesburg and Vietnam Day in Tshwane, the capital city of South Africa, on November 11.           

The ASEANTEX 2005 is the first ever fair of exported goods of ASEAN countries and also an opportunity for African enterprises to learn about culture and tourism in the ASEAN countries and the ASEAN countries, in turn, to attract tourists from Africa.

Vietnamese enterprises participating in the Fair come from the fields of pharmaceutical products, garments and textiles, agricultural and electronic products, machinery, ceramics, shoes, ecological products, furniture, banking services, trade and services. This is a good chance for Vietnamese enterprises to access South Africa and the African continent.

 

The market survey is expected to mark an important progress in realizing the target of more than US1 billion in Vietnam-Africa trade in the years to come. The forum is one important move on that way and it is expected to gather around 300 participants from Vietnam and South Africa. The forum will include discussions and presentations related to Vietnam-Africa trade and investment, advantages and disadvantages in doing business with the South African market, Vietnam-Africa Business Gateway at www.vinafrica.com, and one to one business meetings between enterprises of the two countries.

 

In the coming time, VCCI will cooperate closely with relevant government and non-government organizations from both Vietnam and Africa to support enterprises in carrying out investment and trade promotion activities such as market information providing, consultancy and training courses

 

Apart from boosting trade and investment ties between the two countries, the delegation this time also wants to bring the special characters of the country’s land and people to South African friends through interesting art performances on Vietnam Culture Day in South Africa.

National dances and music from different Vietnamese regions and famous “Quan ho” folk songs, directed and performed by outstanding artists, will display the message that business partners and friends from all parts of the world are welcome to Vietnam thanks to its political stability, peace, unique cultural identities, friendliness, and cooperation.