T&T Group of Vietnam pledges to buy Guinea Bissau’s raw cashew

Under a memorandum of understanding on agribusiness signed in Hanoi yesterday between T&T Group of Vietnam and Guinea Bissau , T&T Group pledged to import raw cashew nuts from Guinea Bissau with an annual volume of 150,000-200,000 tons in 2018 and next years.

T&T Group of Vietnam pledges to buy Guinea Bissau’s raw cashew

In the framework of Vietnam’s visit, mission team of Guinea Bissau led by Minister of Trade, Tourism and Handicrafts Vicente Fernandes, the team had a working session with T&T Group yesterday in Hanoi
Vietnam agreed to buy 150,000-200,000 tons annually which is equivalent to Guinea Bissau’s annual raw cashew. At present, Guinea Bissau ranks the fifth largest raw cashew nut producer in the world.
At the working session, the Guinea Bissau government is committed to ensuring output, quality, delivery deadlines and payment channels.
Also, the two sides exchanged the possibility of exporting Vietnamese rice to Guinea Bissau’s market in the years to come.
Additionally, T&T Group promised to provide training in the field of agriculture and technology transfer to Guinea Bissau.
Speaking in the signing ceremony, Minister Vicente Fernandes said that the two sides have many similarities as they are both agricultural countries. Guinea Bissau has a high demand of rice imports while Vietnam is one of the world's top rice exporters whereas Vietnam needs more raw cashew which Guinea Bissau is large exporter of the agro-product.
Present at the signing ceremony, Deputy Minister of Industry and Trade Do Thang Hai said that the great potential for rice and cashew exports between both sides, congratulating Guinea Bissau to choose a reliable partner like T&T Group.

By C.D – Translated by UYEN PHUONG

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