Vietnam can assist Nigeria in processing of farm produce - Akinsemoyin

Oye Akinsemoyin, Chairman of Nigeria-Vietnam Chamber of Commerce and Industry (NVCCI) has said Vietnam can assist Nigeria in processing of farm produce as part of an effort to boost the export of unprocessed products and promote cooperation in the agricultural sector between the two countries.
 
Vietnam-Nigeria


Akinsemoyin who said this at the Nigeria-Vietnam Business and Investment Forum held in Hanoi on December 4 noted that Nigeria has the potential to become a gateway for Vietnamese enterprises in the African market.

According to him, Nigeria wishes to receive Vietnam's support in human resources while the two sides can take advantage of their respective comparative advantages to develop the processing industry including the processing of farm produce.

He hoped that the two countries will boost the export of unprocessed products in addition to promoting cooperation in the production and processing industry.

Doan Duy Khuong, Vice Chairman of Vietnam Chamber of Commerce and Industry (VCCI), noted that the forum will help to promote trade, investment and import-export activities between the two countries and the governments of both sides will work actively to support the long-term and effective cooperation between enterprises of the two countries.

Khuong added that Vietnam is also an important gateway for Nigerian enterprises to approach large markets, particularly the ASEAN market.
Photo: Nhan Dan Online

Over the past five years, the average bilateral trade revenue reached over $250 million and Vietnam has enjoyed large trade surplus with Nigeria, particularly in the exports of transport vehicles, computers, and electronic equipment, he said.

Meanwhile, Vietnam imports cashew nuts, cotton yard, wood fibre, vegetables and fruits from Nigeria.


According to the VCCI, Vietnam and Nigeria have considerable cooperation potential in agriculture, agricultural product processing, garment outwork, mining, and production of construction materials, among others.

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