Vietnam trade with Middle East and Africa grows

22.10.2015

Deputy Prime Minister Vu Van Ninh said at a seminar held by the Foreign Ministry in the capital city yesterday: Vietnam is willing to be a gateway for goods and services from the Middle East and Africa to navigate the markets of ASEAN member states.

He expressed his satisfaction with the eight-fold increase in bilateral trade between Vietnnam and the Middle East and Africa over the past 10 years from USD 2 billion in 2005 to USD 15.7 billion in 2014. It reached USD 8.7 billion in the first seven months of this year.

A number of Middle East and African firms have invested in key Vietnamese projects in the field of oil and gas, seaports, industry and construction materials. Meanswhile, Vietnam businesses, including PetroVietnam and Viettel Telecoms, have successfully expanded their businesses in the Middle East and Africa.

Bakri Yousif Omer, secretary general of the Sudanese Businessmen and Employers Ferderation, told the seminar that during the last 15 years, trade flows between Africa and Asia had rapidly increased. This was the hallmark of the recent growth of South-South trade and investment.

Source:vietnamnews.vn