Opening up new opportunities for Vietnam-South Africa agricultural trade and investment cooperation

There are many opportunities for Vietnamese products to penetrate the South African market. In addition, Vietnam and South Africa have great potential for cooperation in various fields. Pham Thanh Hai, first secretary of the Vietnamese embassy in South Africa and head of commerce, said that the bilateral trade volume between South Africa and Vietnam exceeds US$1.3 billion each year. Among them, Vietnam’s exports to South Africa exceeded US$800 million and imports reached nearly US$500 million. The three main investment areas of both parties include investment, raw materials and fuels, and fruit products.

For fruit products, South Africa's dominant products are temperate fruits, and Vietnam's dominant products are tropical fruits. Therefore, the two markets are complementary. Pham Thanh Hai believes that in order to allow Vietnamese fruit products to get into the South African market, Vietnamese enterprises should add higher value to fruit products, such as canned fruit, dried fruit, jam, or fruit tea.

In the area of ​​investment, South Africa is assessed as an important gateway into the region and around the world. In addition, South Africa is an important member of the Southern African Development Community and has signed an Economic Partnership Agreement with the European Union in October 2020, thus enjoying many tax privileges in the EU market.

Source: zh.vietnamplus.vn


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