VN, Nigeria to increase two-way commerce, investment

Thursday, Oct 31, 2019 07:52

A meeting between a Vietnamese government delegation and the Nigeria-Vietnam Entrepreneurs Association in Abuja, Nigeria. — VOV Photo

Nigeria looked forward to working together with Viet Nam, especially in the fields of agriculture, machinery and information technology, said Sani Bako, president of the Nigeria-Vietnam Entrepreneurs Association.

He made the statement during a meeting with Deputy Prime Minister Vuong Dinh Hue in Abuja, the country’s capital, on Tuesday.

Bako, who served as the republic’s first ambassador to Viet Nam in 2007, said he held Viet Nam’s numerous and important achievements in development in high regard.

He said the deputy PM’s visit was a milestone in the two countries’ diplomatic and economic relationship.

With support from the Nigerian government and the embassy of Viet Nam in Nigeria, the association planned to send a high-ranking delegation to attend the HCM City International Expo in December. The delegation would also hold working sessions with the Vietnam Chamber of Commerce and Industry (VCCI) as well as Vietnamese businesses.

Deputy PM Hue said Viet Nam welcomed Nigerian businesses and the formation of the Nigeria-Vietnam Entrepreneurs Association. He asked the association to step up co-operation with the VCCI to promote Viet Nam’s businesses and images in Nigeria and West Africa.

Hue said there was great potential for co-operation in cashew cultivation, a major industry in both countries. Viet Nam was looking to increase its exports to Nigeria and to import more Nigerian goods to ensure trade remained balanced between the two sides, he added.

The deputy PM asked the association to support Vietnamese rice and coffee, which faced a 60 per cent import tax. Hue said Vietnamese agricultural products, along with co-operation among Vietnamese and Nigerian businesses, could help produce major value chains.

He suggested a direct flight between Viet Nam and Nigeria be established in the near future to help facilitate trade and co-operation.

Nigerian business leaders urged Vietnamese businesses to make more investments in cashew and woodwork factories as well as the petro industry to tap Nigeria’s oil reserves which were the largest among African countries. — VNS

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