The Vietnam Embassy in Egypt is willing to support local firms in seeking Vietnamese partners to study each other’s market, stated Ambassador Do Hoang Long at a trade promotion workshop in Mansoura city, Dakahlia province, on March 9.
The workshop was organised by the Vietnam Embassy and the business chamber of Dakahlia, gathering representatives from more than 40 major import-export companies in the province.
In his speech, Long stressed that Vietnam offers favorable conditions to foreign investors.
Based on their friendship, Vietnam and Egypt should intensify measures to boost partnerships, particularly in agro-forestry-fishery and tourism, the diplomat added.
Introducing the local market, head of the Dakahlia business chamber Ahmed Roab said the workshop was an opportunity for Egyptian enterprises to learn about the Vietnamese market, thus facilitating trade-investment ties between localities of the two countries.
Trade counsellor at the Vietnam Embassy Pham The Cuong informed the workshop of Vietnam’s business climate and policies for investment attraction, and fielded questions on trade affairs between the two countries.
According to Cuong, trade revenue between Vietnam and Egypt hit about 314 million USD last year, of Vietnamese exports to Egypt made up 249 million USD.
Participants proposed Vietnam send business delegations to trade fairs in Egypt.
They said they expected the Vietnam Embassy’s support would help Dakahlia enterprises boost exports, particularly fruit, to Vietnam.
In an interview with the Vietnam News Agency, trade counsellor Cuong said bilateral trade has fallen short of potential, while Egypt’s political unrest and currency depreciation affected Vietnamese goods in the market.
However, the northeast African economy is being reformed, which could be a good sign for bilateral trade in the future, Cuong noted.
Egypt has a population of 92 million, with import demand estimated at more than 80 billion USD per year.