Vietnam
seeks to develop its relationship with Nigeria in economics, trade, industry
and investment, a Vietnamese trade official said, considering the country as a
large, potential market in Africa and an economic gateway to neighbouring
countries in western and central Africa .
Addressing the Vietnam-Nigeria Business Forum
in Hanoi on Nov. 28, Deputy Minister of Industry and Trade Le Duong Quang said
the ministry has chosen Nigeria – a key African market of almost 160 million
people – to create opportunities for Vietnam ’s exports.
Two-way trade between Vietnam and Nigeria in 2010
exceeded $155 million, up 56 per cent over 2009. By the end of October this
year, two-way trade exceeded $121 million.
Vietnam exports mainly garment products,
computers and electronic spare parts, automobile components, seafood,
chemicals, rice, machines and equipment to Nigeria.
According to the Vietnamese trade office in
Nigeria , the African country has a great demand for rice and seafood, and it
imports 1.5-1.7 million tonnes of rice each year.
Nigerian Minister of State for Trade and
Investment Samuel Ioraer Ortom said his country is the biggest seafood consumer
in Western Africa , using around 1.4 million tonnes a year.
According to Tunde Ajisomo, Head of the
Diplomatic Delegation of the Nigerian Embassy in Vietnam , the two governments
signed the Trade Agreement 2011 with the aim of facilitating business
activities between the two countries.
Hundreds of Nigerian traders arrive in Vietnam
each year to seek new partners, while some of them have established
representative offices in Ho Chi Minh City . The Nigerian firms see Vietnam as
a good replacement for Chinese partners.
A number of Vietnamese enterprises have sought
investment opportunities in Nigeria . On July 5, 2011 FPT Joint Stock Company
of Vietnam signed a cooperative agreement with the 21 st Century Technologies
of Nigeria, to promote cooperation in telecoms, education and computer
equipment production.
Deputy Minister Le Duong Quang suggested the
two governments create favourable legal frameworks for enterprises from both
nations, adding that the two countries should strengthen the exchange of visits
at all levels and organise workshops and business forums in the near future.
Samuel Ioraer Ortom said the Nigerian
government introduced economic reforms to gain high growth, maintain
macroeconomic stability and strictly manage tax, in order to create a
favourable environment for foreign investors.
At the event, Nigerian businesses showed
interest in Vietnam ’s export products. They signed a number of business deals
for bulbs, batteries, pharmaceutical and farm products, animal feed and
plastics.
VIR - VNA
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