The Embassy of Vietnam and the Nigeria-Vietnam Economic, Trade and Cultural Association will hold a high-level roundtable business meeting to improve bilateral trade and economic relations between the two countries.
According to an NVETCA statement on Tuesday, the meeting, co-hosted by Vietnam Ambassador HE Bui Quoc Hung and NVETCA Chairman Sani Bako, will focus on leveraging more trade areas, especially agriculture, food processing, and agriculture. Said it was intended. import/export, manufacturing, infrastructure, information technology.
A statement signed by Wale Akintode, Group Director, Strategic Communications and Marketing, said: “Both countries have agreed to this agreement with the aim of finding more meaningful and deeper ways to build mutually beneficial trade instruments. “Now more than ever, we need to tap into our potential,” it reads in part. collaboration.
“Since Nigeria established diplomatic relations with Vietnam in 1976, trade has remained concentrated in a few goods and a few sectors, despite the huge potential for trade and economic growth between the two countries. is.”
Mr Akitade added that the Business Roundtable provided great opportunities for economic growth and cooperation.
“Nigeria’s strengths in oil and gas and great potential in agriculture and manufacturing can complement Vietnam’s expertise in technology, textiles and electronics. Vietnam’s experience in exporting goods to the United States and China can also complement It could help significantly expand Nigeria’s reach to global markets,” he added.
Key areas of focus include agricultural trade, with Nigeria exporting cashew nuts, cocoa and other products to Vietnam, while importing machinery and technology to promote local production and processing of these. exchanges among agricultural experts.
Another area of cooperation is energy, where Nigeria’s oil and gas reserves and Vietnam’s expertise in renewable energy could help alleviate the country’s current energy crisis.
NVETCA said the country could benefit from Vietnam’s experience in the technology industry in infrastructure development and digital economy initiatives, particularly in the area of Nigeria’s growing fintech industry.
The event is expected to include federal and state government officials, select chambers of commerce and interest groups from around the country, and businessmen and women.
NVETCA aims to promote and promote economic and cultural relations between Nigeria and Vietnam in areas that further unleash the potential and ingenuity of the peoples of both countries.
