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Friday 23 July 2021
HomeFeatured NewsVietnam eyeing Tunisia as springboard for African markets

Vietnam eyeing Tunisia as springboard for African markets

An online conference to promote trade cooperation between Vietnam and Tunisia took place on June 30, attracting the participation of representatives from 100 businesses of the two countries operating across fields.

Addressing the event, deputy head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE) Le Hoang Tai affirmed that Vietnam is gradually becoming an important link in the global supply chain for many groups of processed and manufacturing products, farm produce, food and consumer goods.

The event offers a venue for Vietnamese enterprises to introduce business cooperation opportunities and import – export prospects between the two sides, Tai said.

Najeh Ben Abdessalem, Vice President of the Chamber of Commerce and Industry of Tunis capital, said the trade value between the two countries still remained limited, affirming that there is a large room for bilateral trade cooperation.

Sharing Abdessalem’s view, Ghazi Yacoub from the center for export promotion of Tunisia (CEPEX) spotlighted the potential for trade cooperation between Vietnamese and Tunisian enterprises, especially in export-import.

Tunisia’s import turnover averagely increases by 4.75% per year, he said.

Through Tunisia, Vietnamese businesses can access markets in the Middle East and South Africa. On the contrary, Vietnam can serve as a gateway for Tunisian firms to make inroads into other ASEAN member countries.

Tunisian-Vietnamese Business Council considered

Hoang Duc Nhuan, Vietnamese Trade Counsellor in Algeria and Tunisia, said the two sides need to improve their legal framework through signing agreements on the promotion and protection of investment, memoranda of understanding (MoU) on trade promotion, and considering the possibility of setting up a Vietnam – Tunisia business council.

According to the Vietnam General Department of Customs, the Vietnam – Tunisia trade value reached US$36.2 million in 2019.

Vietnam mainly exports coffee, cashew nuts, pepper, seafood, machines, spare parts and fibre. Meanwhile, Tunisia ships seafood, chemicals, machines, plastics, textiles and animal feed, and materials to Vietnam.

Nhuan emphasized the necessity to promote the role of diplomatic representative agencies, ministries and trade promotion organizations and joint committees of the two countries in supporting their business communities.

Attention should be paid to helping the two sides’ enterprises get more information on cooperation opportunities.

Vietnamese and Tunisian firms should also actively participate in international fairs and exhibitions, and business forums, he said.

Nhuan advised Vietnamese enterprises to consider pouring more investment into and setting up joint ventures in the field of processing, manufacturing and high-value-added services in Tunisia as a foundation for entering other African markets.

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