Vietnam promotes trade in Egypt
Friday, 2017-03-10 10:39:23
NDO/VNA—The Vietnam Embassy in Egypt is willing to support local firms in seeking Vietnamese partners to study each other’s market, stated Ambassador Do Hoang Long at a trade promotion workshop in Mansoura in Egypt’s Dakahlia Province on March 9.
The workshop was organised by the Vietnamese embassy and the business chamber of Dakahlia, gathering representatives from more than 40 major import-export companies in the province.
In his speech, Long stressed that Vietnam offers favorable conditions to foreign investors.
Based on their friendship, Vietnam and Egypt should intensify measures to boost partnerships, particularly in agro-forestry-fishery and tourism, the diplomat added.
Introducing the local market, head of the Dakahlia business chamber Ahmed Roab said the workshop was an opportunity for Egyptian enterprises to learn about the Vietnamese market, thus facilitating trade-investment ties between localities in the two countries.
Trade counsellor at the Vietnamese embassy Pham The Cuong informed the workshop of Vietnam’s business climate and policies for investment attraction and fielded questions on trade affairs between the two countries.
According to Cuong, trade revenue between Vietnam and Egypt hit about US$ 314 million last year, with Vietnamese exports to Egypt making up US$ 249 million.
Participants proposed that Vietnam send business delegations to trade fairs in Egypt.
They said they expected the Vietnamese embassy’s support would help Dakahlia enterprises boost exports, particularly fruit, to Vietnam.
Trade counsellor Cuong said bilateral trade had fallen short of its potential, while Egypt’s political unrest and currency depreciation affected Vietnamese goods on the market.
However, the northeast African economy is being reformed, which could be a good sign for bilateral trade in the future, Cuong noted.
Egypt has a population of 92 million, with import demand estimated at more than US$80 billion per year.