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Deal struck on annual rice exports to Guinea

Update: March, 30/2013 - 08:59

HA NOI (VNS)— Viet Nam will export 300,000 tonnes of rice annually to the Republic of Guinea until the end of 2015.

To this effect, Minister of Industry and Trade Vu Huy Hoang and Guinea's Minister of Trade Mohamed Dorval Doumbouya signed a Memorandum of Understanding (MoU) yesterday.

Minister Hoang said the MoU laid a legal foundation to ensure stable and direct rice trading activities between the two nations.

This would contribute to building a strategic partnership and maintaining food security for the two sides, he said.

He added that Viet Nam could also boost its exports of garments and textile, footwear, cigarettes, chemicals and accessories for bikes and automobiles to Guinea, while importing cashew, wood, metals and minerals from the country.

According to the minister, rice was always Viet Nam's major staple exported to Guinea.

Last year, rice accounted for US$23 million out of Viet Nam's export turnover of $40 million to Guinea. In 2011, the figures were respectively $78 million and $95 million.

Each year, Guinea imports between 350,000-400,000 tonnes of rice. — VNS

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