Vietnam, South Africa head to raise bilateral trade value to US$2 billion

Update: 16:17 | 06/11/2019
South Africa will facilitate the trade and investment ties of Vietnamese enterprises to raise the Viet Nam-South Africa trade value to US$2 billion in the next five years.
TIN LIÊN QUAN
vietnam south africa head to raise bilateral trade value to us 2 billion South Africa-Vietnam: Harnessing great potentials
vietnam south africa head to raise bilateral trade value to us 2 billion PM: Vietnam treasures relations with South Africa
vietnam south africa head to raise bilateral trade value to us 2 billion
Deputy Prime Minister Vuong Dinh Hue meets South African Vice President David Mabuza, November 5, 2019. (Photo: VGP)

South African Vice President David Mabuza made that statement at his talks with Vietnamese Deputy Prime Minister Vuong Dinh Hue on November 5 on the occasion of the Vietnamese Deputy PM’s visit to South Africa.

At the talks, Hue affirmed the Vietnamese Government’s concerns about promoting the cooperative relationship with South Africa, the first nation in Africa that Vietnam has set up partnership for cooperation and development.

He suggested the two sides soon complete negotiations to soon ink cooperative documents to create legal framework for cooperative activities, especially in the mineral sector, agriculture and aviation, highlighting the necessity to uphold the role and effectiveness of the current bilateral cooperative mechanisms such as the inter-Governmental partnership forum, joint trade committee and defense dialogue.

Regarding multi-lateral aspect, Vietnam expects to expand relations with the Southern African Development Community (SADC) and the African Union (AU), he added.

Vietnam is willing to play a bridging role for South Africa to enhance cooperation with other nations in ASEAN, he affirmed, proposing the South African Government tackle difficulties in payment method for Vietnamese enterprises and consider opening branches of Vietnamese commercial banks in South Africa.

For his side, David Mabuza said to create favorable conditions for Vietnamese investors to launch operation in South Africa, agreeing to boost cooperation in defense-security, environmental protection and wildlife conservation.

He spoke highly of the visit of the Vietnamese Deputy PM, which aims to evaluate cooperative frameworks and eliminate barriers to pave the way for bilateral trade relations, asserting that South Africa attaches importance to the relationship with Vietnam, the fifth largest economic partner of South Africa and the largest trade partner of the country in the Southeast Asia.

vietnam south africa head to raise bilateral trade value to us 2 billion
Deputy Prime Minister Vuong Dinh Hue meets African National Congress (ANC) Secretary-General Ace Magashule, November 4, 2019/ (Photo: VGP)

*Earlier on November 4, Hue held a working session with African National Congress (ANC) Secretary-General Ace Magashule.

Ace Magashule announced that he will pay a visit to Vietnam in next December to enhance solidarity between the two Parties and enhance international integration.

Deputy PM Hue concluded his working visit to African nations from October 28-November 6.

vietnam south africa head to raise bilateral trade value to us 2 billion Vietnam sends relief aid to Zimbabwe cyclone victims

The Vietnamese Embassy, the Vietnam News Agency (VNA)’s bureau and the Vietnamese Women’s Association in South Africa on April 30 handed over relief aid to ...

vietnam south africa head to raise bilateral trade value to us 2 billion South African press highlights partnership with Vietnam

The news agency of the South African Government on March 17 reported on the fourth meeting of the South Africa-Vietnam Intergovernmental Partnership Forum in Pretoria ...

vietnam south africa head to raise bilateral trade value to us 2 billion Vietnam, South Africa agree to boost comprehensive cooperation

Vietnam and South Africa have agreed to work together to bolster comprehensive cooperation at the fourth Vietnam – South Africa inter-governmental partnership forum.

(Source: VGP)