VN, South Africa head to raise bilateral trade value to US$2 bln
VGP –South Africa will facilitate the trade and investment ties of Vietnamese enterprises to raise the Viet Nam-South Africa trade value to US$2 billion in the next five years.
Deputy Prime Minister Vuong Dinh Hue meets South African Vice President David Mabuza, November 5, 2019 - Photo: VGP/Thanh Chung
At the talks, Hue affirmed the Vietnamese Government’s concerns about promoting the cooperative relationship with South Africa, the first nation in Africa that Viet Nam has set up partnership for cooperation and development.
He suggested the two sides soon complete negotiations to soon ink cooperative documents to create legal framework for cooperative activities, especially in the mineral sector, agriculture and aviation, highlighting the necessity to uphold the role and effectiveness of the current bilateral cooperative mechanisms such as the inter-Governmental partnership forum, joint trade committee and defense dialogue.
Regarding multi-lateral aspect, Viet Nam expects to expand relations with the Southern African Development Community (SADC) and the African Union (AU), he added.
Viet Nam is willing to play a bridging role for South Africa to enhance cooperation with other nations in ASEAN, he affirmed, proposing the South African Government tackle difficulties in payment method for Vietnamese enterprises and consider opening branches of Vietnamese commercial banks in South Africa.
For his side, David Mabuza said to create favorable conditions for Vietnamese investors to launch operation in South Africa, agreeing to boost cooperation in defense-security, environmental protection and wildlife conservation.
He spoke highly of the visit of the Vietnamese Deputy PM, which aims to evaluate cooperative frameworks and eliminate barriers to pave the way for bilateral trade relations, asserting that South Africa attaches importance to the relationship with Viet Nam, the fifth largest economic partner of South Africa and the largest trade partner of the country in the Southeast Asia.
Deputy Prime Minister Vuong Dinh Hue meets African National Congress (ANC) Secretary-General Ace Magashule, November 4, 2019 - Photo: VGP/Thanh Chung
Ace Magashule announced that he will pay a visit to Viet Nam in next December to enhance solidarity between the two Parties and enhance international integration.
Deputy PM Hue concluded his working visit to African nations from October 28-November 6.
By Thuy Dung