09:50 | 03/09/2015 Trade
(VEN) - In a context where Vietnam has faced a decline in export turnover, Africa was seen as the exception as the continent witnessed good export turnover growth in the first half of this year. The Ministry of Industry and Trade will implement numerous trade promotion solutions in the coming time in order to promote exports to this market.
Rice exports to Africa have recorded good growth
Of this, Vietnamese export turnover to Africa stood at US$1.67 billion and recorded strong growth in key markets such as South Africa, Egypt and Ghana. Despite facing difficulties in 2014 due to Ebola virus disease, Vietnam’s exports to Africa have shown signs of recovery.
South Africa ranked first among the African countries in the first half of the year with US$536.8 million in terms of Vietnamese export value, a year-on-year increase of 41 percent, followed by Egypt and Ghana with US$178 million and US$114.8 million. Other markets like Algeria and Nigeria have also recorded relatively good export turnover growth.
Computers, electronic products and components, phones and its accessories are Vietnam’s main processing industry items having the highest export value to Africa. In the first half of the year, export turnover of phones and its accessories to Algeria reached US$72.16 million, an increase of 44 percent compared to a year ago, while the export value of computers, electronic products and components, phones and its accessories to Tanzania stood at US$45.16 million, a year-on-year increase of 158 percent.
Vietnamese rice exports to this market have also recorded strong growth. Ghana remained a leading rice importer of Vietnam with imports valued at US$84 million, an increase of 24 percent compared to the same period last year, followed by the Ivory Coast and Algeria with US$46.6 million and US$8 million. Vietnamese rice has become increasingly popular in Africa thanks to lower prices compared to the same kinds of Indian and Thailand rice varieties. Vietnamese rice has been available in 40 markets in Africa, West Asia and South Asia with export turnover of around 20 percent of the country’s total rice export turnover.
The Ministry of Industry and Trade’s Agency of Foreign Trade Director General Phan Van Chinh said that the Ministry of Industry and Trade will implement numerous trade promotion solutions in the coming time in order to promote exports to Africa in addition to China and America. The ministry is also building a project to strengthen rice exports to key markets, including Africa. The most difficult thing in trade with Africa is making payment via intermediaries and it will be removed thanks to a new project. In addition, the ministry is devising trade promotion solutions in order to create the most favorable conditions for localities and businesses.