10:33 | 17/06/2019 Trade
(VEN) - The Ministry of Industry and Trade will organize trade promotion activities to help Vietnamese goods enter South Africa.
To implement the project on bringing Vietnamese goods to foreign distribution systems, the Ministry of Industry and Trade held a trade promotion trip to South Africa, including representatives from the European-American Market Department, the Asian-African Market Department, and businesses. Over five working days in South Africa, the delegation’s activities included market surveys in Cape Town, Johannesburg and Pretoria, two seminars to connect businesses between the two countries, and displays of Vietnamese goods at the wholesale supermarket chain Advance Cash & Carry and shopping mall Brooklyn Mall Pretoria.
Among the Vietnamese firms involved in the promotion campaign are Vietnam Dairy Products Joint Stock Company (Vinamilk), Minh Phu Seafood Corporation, Investment Commerce Fisheries Corporation (Incomfish), Bao Hung Confectionery Company, and Song Hy Agro-Forestry Products Import Export Joint Stock Company.
According to the Asian-African Market Department, South Africa is the most developed country in Africa in terms of socioeconomics and politics, as well as now being Vietnam’s largest trade partner on the continent. It is also a good gateway for Vietnamese goods and services to the continent’s market of 1.2 billion people. Two-way trade surpassed US$1 billion last year. Nearly US$724 million of which was Vietnamese exports, mostly mobile phones and spare parts, machinery, pepper, coffee, garments and textiles, footwear, iron and steel, cashew nuts, wooden furniture, chemicals, vegetables, and rice.
Although two-way trade has continuously increased over the years, there is still much room for future growth, especially in fields such as food processing and seafood.
More and more Vietnamese goods are available on foreign supermarket shelves since the Ministry of Industry and Trade launched a project to help Vietnamese businesses access foreign distribution systems. The project has contributed to significant benefits for businesses, such as broad and stable sales, reduced intermediary costs, access to major distributors and learning their experiences.
In June 2019, the Ministry of Industry and Trade will lead two delegations to attend the 26th South African International Trade Exhibition (SAITEX) in Johannesburg and study the leather and footwear support industry. It will be an opportunity to strengthen industrial cooperation, especially support industries between the two sides.