- News in Vietnam
- 28 October 2021
Covid-19: Promoting Vietnam-Egypt trade exchange
Promoting cooperation in industrial products and potential fields between Vietnam and Egypt is the topic of a trade promotion seminar organized by the Vietnam Trade Office in Egypt.
The seminar was attended by the Vietnamese Ambassador to Egypt Tran Thanh Cong, Egyptian Deputy Minister of Industry and Trade Mr. Ibrahim ElSeginy, General Director of the General Department of Exhibitions and Conferences of Egypt Ms. Mall Assal, and nearly a hundred trading business of Egypt. This is a special event in the context that the COVID-19 pandemic is still spreading, but it is crucial to create momentum to promote bilateral trade between the two countries after the COVID-19 epidemic is brought under control worldwide.
According to business representatives, the trade turnover of Vietnam and Egypt reaching 551 million USD in 2020 is still low compared to the potential and strengths of each country. To promote bilateral turnover, Egyptian businesses said that in addition to traditional products such as agricultural products, fisheries, and garments. The two countries should aim for high-value industrial products and cooperate on taxes, tourism, strengthen trade promotion, attend fairs and exhibitions…
Egypt’s Deputy Minister of Industry and Trade Ibrahim ElSeginy said: “Vietnam and Egypt have had a traditional historical relationship since 1963. The two countries are witnessing a bright period of trade cooperation with high value of goods exchange bilateral trade reached more than 500 million USD. We hope that this number will increase in the coming time when the two countries have a joint committee on trade, and at the same time can remove obstacles in the field of import and export of enterprises of the two countries. Vietnamese enterprises have strengths in manufacturing many products, and we are very pleased to welcome Vietnamese enterprises to invest in different fields in Egypt. I think this is very meaningful for the future development of bilateral relations in the context of the current COVID-19 pandemic.”
Head of the Vietnam Trade Office in Egypt, Mr. Nguyen Duy Hung, said that the conference is an opportunity to grasp the needs of the Egyptian market in particular and the Middle East and Africa in general, and at the same time promote the potential and Vietnam’s strength. This is a very active activity to promote trade exchange as economies gradually open up and recover from the COVID-19 pandemic.
Notably, the conference took place within the framework of the 54th Cairo International Fair. This is the most significant event in Egypt and the Middle East every year. Despite being affected by the pandemic, this year’s fair still has the presence of many countries such as Indonesia, Sri Lanka, Saudi Arabia, Vietnam, and Sudan. The fair has many large enterprises participating in, with diverse products such as food, clothing, furniture, electrical appliances, leather goods, mattresses, and chemicals. This event aims to stimulate trade and economic demand after COVID-19.