Vietnam-Africa trade turnover fivefold after seven years

The export import turnover between Vietnam and West Africa increased fivefold from US$180 million in 2007 to US$854 million in 2014, reported the Ministry of Industry and Trade.
The turnover between the country and Central Africa hiked 4.6 fold from US$72.6 million in 2007 to US$340.8 million in 2014.
Rice was key export item, holding 50-70 percent Vietnam’s total export value to these two areas, followed by garment and textile and processing.
If businesses could take advantage of preferential polices in priority fields to exploit the potential African market, Vietnam’s export value might reach US$5 billion in the upcoming time, said Mr. Hoang Duc Nhuan, deputy head of the Africa, West Asia and South Asia Market Department under the Ministry of Industry and Trade.

By Minh Xuan – Translated by Hai Mien

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