The happiness of African farmers from a Vietnam's rice supporting project (Source: Vietnam Agriculture) Algiers (VNA) - With a population of1.3 billion, Africa will still be a market of good potential for Vietnam afterthe COVID-19 pandemic, according to Vietnamese Trade Counsellor in AlgeriaHoang Duc Nhuan, who is also in charge of trade affairs in Senegal, Mali,Gambia and Niger.
Ina recent interview granted to Vietnam News Agency correspondents in Algiers,Nhuan noted that trade between Vietnam and these countries and Africa ingeneral have all been affected by COVID-19.
Hecited preliminary figures from the General Department of Vietnam Customs thatshowed exports to Africa in January-May experienced a year-on-year decline of6.1 percent. Meanwhile, African countries’ earnings from exports to Vietnam also fell slightly, by 1.2 percent.Trade items most affected were cotton, raw cashew nuts, wood, copper, andminerals.
Vietnam’s exports to some African countries,however, headed upwards, as those countries boosted import of rice,confectionery, cereal products, pepper, and cashew nuts for stockpile inresponse to the pandemic. Vietnamese rice shipments to Senegal surged 26-foldin volume and 18.3-fold in value, contributing to raising total export turnoverto the country by 88.6 percent.
Though the governments of Algeria, Senegal,Mali, Gambia, and Niger have yet to determine when international flights willresume, trade and cargo transport have been maintained.
The trade counselor suggested Vietnamesebusinesses focus on exporting farm produce and foodstuffs such as rice, coffee,cashew nuts, pepper, and cereal products, as well as medicine, means oftransport, and automobile and motorcycle spare parts, all of which are in highdemand.
Regarding international integration, Nhuan saidAfrican countries are striving to realise the African Continental Free TradeArea (AFCFTA), which is expected to increase regional trade to nearly 60percent by 2022.
He noted that governments in Africa have beenencouraging foreign investment in the processing industry and developing highadded value products.
Trade between Vietnam and Africa stood 7.4billion USD last year, of which 3.4 billion USD was from Vietnam’s exports, up17 percent against 2018./.
VNA
