Vietnam and South Africa promote trade and business cooperation

Numerous Vietnamese and South African companies participated in the Vietnam-Durban Business Forum 2022, which was held in the African city of the same name, in order to promote trade, seek import-export opportunities and invest in markets.

Numerous Vietnamese and South African companies participated in the Vietnam-Durban Business Forum 2022, which was held in the African city of the same name, in order to promote trade, seek import-export opportunities and invest in markets.

This is the largest trade promotion activity between the two countries after the interruption due to the COVID-19 pandemic.

Some 20 Vietnamese companies in the agriculture, food, consumer and construction sectors will also seek cooperation and investment opportunities in various South African locations, such as Pretoria, Johannesburg and Cape Town, among others.

Speaking at the event, the Vietnamese ambassador here, Hoang Van Loi, said that trade is considered one of the important foundations of bilateral economic relations. At the same time, he emphasized the great potential of the exchange of goods between both parties.

Wide connectivity in business sectors will bring investment capital from Vietnam to South Africa, he assessed.

The Vietnamese Embassy and Trade Office in South Africa will do their best to act as a bridge connecting the binational business communities, for the benefit of common firms and interests, especially in the context of the 30th anniversary of the establishment of diplomatic ties in 2023.

According to official data, the value of bilateral trade exceeded one billion dollars in the first nine months of 2022, and is expected to reach 1.3 billion dollars this year.