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South African businesses seek export opportunities in VN

Update: October, 22/2019 - 08:44

 

Speakers at a business-matching event yesterday in HCM City, organised by the Ministry of Industry and Trade's Department of Trade Promotion in coordination with South Africa's Ministry of Industry and Trade. VNS Photo Bồ Xuân Hiệp

HCM CITY — South African businesses aim to increase their export of goods to Việt Nam in the near future, speakers said on Monday at a conference in HCM City.

A delegation of South African businesses are on a trip in Việt Nam to showcase South African products, identify trade partners and investment opportunities, and study consumer tastes and import requirements.

Speaking at a business-matching event, Valentine Naidoo, representative of South Africa's Ministry of Industry and Trade, said that Việt Nam is an important gateway for South African goods to access Southeast Asian markets. 

Jacobus Rreinier Grove, representative of Rukou Beverages Pty Ltd of South Africa, noted that South Africa and Việt Nam were both strong in agriculture but have different products that could be promoted in each other's market.

In the processing industry, South Africa has strengths in products made from natural and safe ingredients, he said. 

Deshan Naidoo, director of Factocode Microfinish Co specialising in manufacturing components and auto parts, said that Việt Nam's well-developed manufacturing industry has a high demand for products in the supporting industry.

Many South African businesses, which want to establish partnerships with enterprises in Việt Nam's supporting industry, can assist in technology transfer and human resource training, he said. 

According to Bùi Thị Thanh An, deputy director of the Ministry of Industry and Trade's Department of Trade Promotion, South Africa is Việt Nam's largest trading partner in Africa with bilateral trade between the two countries increasing from US$658 million in 2010 to more than $1 billion last year.

Of the figure, Việt Nam exported to South Africa more than $724 million worth of exports, including telephones, agricultural products, coffee and spices, while South Africa mainly exported timber and steel with a value of about $386 million to Việt Nam.

However, trade still lags behind the potential due to a lack of information and delegation exchanges between Vietnamese and South African businesses, she noted, adding that the Ministry of Industry and Trade of the two countries will continue to expand the market for each other’s export products. 

The event was organised by the Department of Trade Promotion under the Ministry of Industry and Trade in coordination with South Africa's Ministry of Industry and Trade. — VNS 

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