Honorary Consulate Works to Promote Vietnam-South Africa Economic Trade

South African Honorary Consulate in Ho Chi Minh City together with the General Council of Agriculture and Rural Development Vietnam promote trade between Vietnam and South Africa
April 27, 2022 | 07:30
Honorary Consulate Works to Promote Vietnam-South Africa Economic Trade
At the signing ceremony. Photo courtesy of the South African Honorary Consulate

On April 26, a prior to the 28th anniversary of South African Freedom Day (April 27, 1994 - April 27, 2022), the Honorary Consul Office in Ho Chi Minh City, together with the General Association of Agriculture and Rural Development, signed a memorandum of cooperation on promoting trade between the two countries, especially agricultural products, aims to restore and strengthen the Vietnam-South Africa cooperation relationship in the post-Covid-19 era.

Statistics from the Vietnamese side show that the bilateral trade reached USD 1.27 billion last year, of which Vietnam’s export revenue to South Africa was USD 847 million, up 24.3% year-on-year. However, trade still lags behind its potential due to a lack of information and delegation exchanges between Vietnamese and South African businesses.

In the post-Covid-19 period, when domestic enterprises are struggling to return to production, the signing of this memorandum of understanding is a leverage, enabling businesses to have more channels to approach partners through the programs organized by the General Association of Agriculture and Rural Development and the Consulate of South Africa.

The General Association of Agriculture and Rural Development plans to organize to bring Vietnamese business delegations to South Africa to identify trade partners, investment opportunities and study consumer tastes and import requirements for the market.

The Honorary Consul Office, through the South African Ministry of Industry and Trade (DTI), will organize seminars for two sides' businesses to meet and exchange face-to-face. Visit and working session of the South African business delegation introduced by the General Assembly in Vietnam also will be held.

Honorary Consulate Works to Promote Vietnam-South Africa Economic Trade
Nguyen Duc Quang, deputy head of the General Association of Agriculture and Rural Development and South African Honorary Consul Do Thi Kim Lien. Photo courtesy of the South African Honorary Consulate

Nguyen Duc Quang, deputy head of the General Association stressed they consider boosting bilateral trade, especially in the field of agriculture one of its priorities.

The General Association of Agriculture and Rural Development with thousands of members, including many large-scale agricultural enterprises, will be good partners in this trade promotion activity, thereby exploiting the full potential of the agriculture of the two countries.

At the ceremony, South African Honorary Consul Do Thi Kim Lien believed this is the right time for businesses of the two countries to strongly promote trade, especially in foreign trade, and agricultural products, as the current Covid-19 situation is under control.

No matter how developed the economy is, agriculture still plays an important role related to the survival of a country. The pandemic has further demonstrated the importance of food security and the special role of the agricultural sector, local and global agricultural supply chains, Lien stressed, adding that the recovery of the economic strength of countries in the post-Covid period depends very much on the development of the agricultural sector.

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