08:32 | 11/12/2018 Cooperation
A trade promotion program was held in Senegal by the Trade Office of the Vietnamese Embassy in Algeria and Senegal from December 2-8 to boost trade relations between the two nations.
|Vietnamese Commercial Counsellor Hoang Duc Nhuan speaks at the program - Source: VNA|
The event saw the participation of many Vietnamese enterprises specialising in producing agricultural products.
In the framework of the event, representatives from the Trade Office had meetings and working sessions with those from the Senegalese Ministry of Commerce and the Ministry of Industry, as well as its Chamber of Commerce and Industry, to promote negotiations for the signing of a memorandum of understanding (MoU) on industrial and trade cooperation between the two countries.
A workshop to introduce the potentials of Vietnam-Senegal trade bonding was organized on December 4, attracting over 250 enterprises from the West African country.
Addressing the event, Vietnamese Commercial Counsellor Hoang Duc Nhuan updated participants on Vietnam’s economic development and proposed ways to enhance bilateral economic and trade links.
Senegalese Deputy Minister of Trade Makhtar Lah said his country is working hard to promote reform and open its economy, improve the business and investment environment towards luring foreign investment, and realise its goal of become an emerging economy by 2035.
According to Nhuan, trade between Vietnam and Senegal was 70.17 million USD in 2017. Vietnam’s main exports to the country were rice, tea, coffee, peppercorn, vegetables, aquatic and industrial products, footwear and textiles.
Nhuan added that at the meeting, the two sides agreed on the need to swiftly sign the MoU on trade and industrial cooperation, as well as ink agreements on double taxation avoidance and investment encouragement and protection to make it easy for their enterprises to expand investment and business collaboration in each other’s markets.
They also stressed the necessity to promote the role of trade promotion and diplomatic agencies in supporting activities of their businesses.
The Senegalese side called on Vietnamese firms to increase their investment in the West African nation, especially in processing farm produce.
The Vietnamese side took the occasion to visit the International Fair of Dakar – Senegal’s biggest trade event which sees the participation of some 670 domestic and foreign agencies and enterprises.
It also met representatives from Senegalese importers and learned about the country’s goods distribution systems.