Vietnam, South Africa discuss 3 bln USD trade turnover
Vietnam and South Africa agreed to double efforts to lift bilateral trade revenue to 3 billion USD by 2020 at the third meeting of their joint trade committee in South Africa’s capital of Pretoria.
Deputy Minister of Industry and Trade Do Thang Hai and South African Deputy Minister of Trade and Industry Mzwandile Masina exchange minutes (Photo: VNA)
Pretoria (VNA) – ﷺVietnam and South Africa agreed to double efforts to lift bilateral trade revenue to 3 billion USD by 2020 at the third meeting of their joint trade committee in South Africa’s capital of Pretoria. The five-day session convened on June 6.
As heard at the meeting, the revenue hit approximately 1.15 billion USD in 2015, almost doubling the figure for 2010, at 659 million USD.
Vietnamese Deputy Minister of Industry and Trade Do Thang Hai underscored South Africa’s role as the biggest import market of made-in-Vietnam products in Africa.
Hai proposed the signing of a memorandum of understanding on trade promotion between the Vietnam Trade Promotion Agency (Vietrade) and the Trade and Investment South Africa (TISA) .
He mentioned trade liberalisation and the establishment of a distribution channel for Vietnamese goods in the host nation by direct links with local distributors as key measures.
He asked the South African Government to facilitate coal exported to Vietnam and local enterprises investing in thermo-power, wind-power and solar-power in Vietnam.
He also expected local authorities to support Vietnamese investment in their coal mining activities in South Africa.
The Vietnamese official urged South African investors to invest in the export sector of Vietnam, particularly in garment-textile and food processing, capitalising on preferential tariffs brought about by free trade agreements.
All of Hai’s proposals were concurred with by South African Deputy Minister of Trade and Industry Mzwandile Masina.
The South African official requested Vietnam create favorable conditions for the import of farming produce and processed food from his country and called for additional Vietnamese investment in South Africa.
During his stay, Hai had a meeting with South African Deputy Minister of Mineral Resources Godfrey Oliphant, who also agreed with his suggestions on mineral collaboration. Mr. Oliphant said he endorsed the signing of a memorandum of understanding with Vietnam on cooperation in the field.
After the meeting, the two industry-trade ministries together with the Vietnam Embassy in South Africa held a trade conference.
The event gathered more than 50 local businesses who are interested in forming partnerships with Vietnamese firms, opening representative offices, making inroads into the retail sector in Vietnam and exporting coal to the country.
On the occasion, the Vietrade signed a cooperation pact with Swaziland Investment Promotion Agency to encourage trade and investment in industry.-VNA
Painter Vu Kim Thu from Hanoi introduced Vietnam’s fine arts and her own work at a kickoff event for the Vietnam culture week in Pretoria, South Africa on March 22.
Vietnam-South Afric trade has yet to meet its full potential, said Vietnamese Ambassador to South Africa Le Huy Hoang at a forum aiming to enhance ties between the two countries inmaritime transport.
A Vietnamese delegation from the Steering Committee for External Information Service paid a working visit to South Africa from April 24-29, to strengthen links in communication.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Deputy Minister of Industry and Trade Do Thang Hai and South African Deputy Minister of Trade and Industry Mzwandile Masina exchange minutes (Photo: VNA)
