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Viet Nam targets Egyptian market

Update: November, 01/2014 - 09:02
Workers process fish for export at the Da Nang Seaproducts Import - Export Corporation. — VNA/VNS Photo Hong Ky

EGYPT (VNS)— Vietnamese and Egyptian businesses should participate in trade fairs and investment promotion conferences in their respective countries to establish direct partnerships and avoid risks associated with third party go-betweens.

Dao Thanh Chung, the Vietnamese Ambassador to Egypt, delivered this message during a forum on advertising Viet Nam's agro-forestry-fishery goods in the Egyptian market last Thursday.

Chung said untapped co-operation opportunities awaited the business communities of Viet Nam and Egypt, since the former has been a large exporter of agro-forestry-fishery products in the world while the latter has seen a significant rise in demand for these goods.

Adel Aref of the Federation of Egyptian Chambers of Commerce cited a lack of market information as one of the biggest barriers for Egyptian companies who wanted to invest in the Southeast Asian country.

He stressed the importance of frequently organising economic conferences where Egyptian companies could receive the latest information on business opportunities in Viet Nam.

Some Egyptian businesses at the event showed interests in importing frozen seafood products from Viet Nam while others hoped to find domestic counterparts in the production and distribution of animal feed.

In spite of significant progress in bilateral trade from 2009 to 2012, trade volume decreased sharply by 24 per cent in 2013 following political unrest in Egypt, according to the Viet Nam Chamber of Commerce and Industry.

However, Vietnamese exports to Egypt have rebounded to US$200 million since the beginning of this year and are expected to exceed $300 million by year-end, with key export items including seafood; agricultural products such as pepper, cashew nuts and coffee; automotive spare parts; and cellphones and components. — VNS


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