Posted: November 27, 2020
The South Africa and Vietnam business seminar attended by businesspeople operating in different sectors identified different mechanism and systems, that can be used to improve the ease of doing business in both countries. The business seminar was organised by the Department of Trade, Industry and Competition (the dtic) together with Department at the Ministry of Trade and Industry in Vietnam, and the South African Embassy in Hanoi as organiser
The objective of the business seminar was to create access of South African value-added products and services, into new markets, and to promote South Africa as a trade and investment destination.
The seminar also agreed that there was a need to support and encourage business engagements for companies who want to trade and invest in sectors that are supported by both governments. The issue of quality control, employment opportunities and safety mechanism in trading was raised as well.
Addressing the seminar in South Africa, the Director for Export Promotion in Asia and the Middle East at the dtic, Mr Thulani Mpetsheni, said the bilateral relations between the two countries are driven by a Partnership Forum that assists in carrying out and implementing their cooperative activities.
Mpetsheni said there is more to do, in order to expand trade opportunities and eradicate barriers to market access and bottle necks in both countries.
“A growing number of inward and outward trade and investment activities have taken place between the two countries in the past few years, and yielded positive results in the agro-processing sector. We have also seen vast interest shown by Vietnam in importing our wines and other products during these missions,” said Mpetsheni.
Mphetsheni spoke of the need to address the trade balance that has been in favour of Vietnam in the past five years.
The Deputy Director-General for Asia and Africa at the Ministry of Trade and Industry in Vietnam, Mr Nguyen Phuc Nam, said trade relations between Vietnam and South Africa have been growing over the years, and the country has about 20 projects registered or implemented in Vietnam.
“All together we see such a huge potential in terms of trade and investment, and therefore, the business community of both sides will see many opportunities in trade especially in sea food, renewable and solar energy, automotives and components,” said Nam.
Nam pointed out that both governments can still do a lot more in terms of trade and push for more business community engagements from both sides.
“We all know that South Africa’s wine is quite popular and so far we have other open market opportunities for South African businesspeople who produce and trade fresh fruits, and nuts. Our trade relations can be much higher and greater than currently, given such potential. We could also increase the investment relations of the two countries and become one of the shining points in vietnam and the rest of the African continent,” he said.
The sectors targeted for the business seminar were agro-processing, mining and minerals.
The total trade between South Africa and Vietnam amounted to R 18 billion and total value exports stood at R4.1 billion in 2019. The top export products from South Africa to Vietnam were agro-processing, unwrought aluminium, flat-rolled stainless steel, Polymers of ethylene, primary polymers of propylene, coal, briquettes, ovoids and fuels.
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
Issued by: The Department of Trade, Industry and Competition
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