In the first haft of the year, Viet Nam spent $9.7 million on importing goods, mainly cotton and cashew, from Burkina Faso, Do Van Huy said.— Photo petrotimes

HCM CITY (Biz Hub)— There is great potential for co-operation in many sectors including agriculture produce processing and garment and textiles between Viet Nam and Burkina Faso, delegates said at a business forum yesterday in HCM City.

Attending the forum were government officials, representatives of many local firms and a delegation of 15 Burkina Faso enterprises seeking business opportunities in Viet Nam.

Do Huu Huy, deputy head of the Africa and South West Asia Market Department under the Ministry of Industry and Trade, said that since establishing diplomatic ties in 1973, the two countries had signed co-operation agreements in various sectors.

However, bilateral trade between the two countries remained modest compared to the potential, and accounts for a very small part of the total trade turnover of $2 billion a year between Viet Nam and African countries, he said.

He said bilateral trade turnover reached US$18.3 million last year and $13.5 million in the first half of the year, with Burkina Faso enjoying a trade surplus.

In the first haft of the year, Viet Nam spent $9.7 million on importing goods, mainly cotton and cashew, from Burkina Faso, he said.

Zourougi Gnessa Bernard, Deputy Minister of Industry, Commerce and Artisans of Burkina Faso, also noted that the African nation exports raw cashew nut and cotton to Viet Nam and imports agricultural produce, plastic, pharmaceutical products, garment and textiles, footwear and goods from Viet Nam.

Another ministry official, Sibiri Sanou, said "Burkina Faso has drawn out a plan to industrialise its production sector to add more value to export products."

Other areas with investment potential for Vietnamese firms include processing of sesame, cashew nuts and fruit and vegetables; as also gold and manganese mining, he said. — VNS