Vietnam, South Africa explore trade opportunities

HCMC – There is much potential for Vietnam and South Africa to enhance their trade ties, said Vietnam’s Deputy Minister of Industry and Trade Phan Thi Thang. Instead of direct competition, their trade structures complement each other, creating ample opportunities for growth. Vietnam is also among the top 20 economies globally in terms of international trade, with a trade volume of nearly US$735 billion, and is a signatory to 16 free trade agreements. Nomalungelo Gina, South African Deputy Minister of Trade, Industry and Competition, shared Thang’s view on the complementary nature of their markets, identifying potential cooperation in sectors such as automotive, chemicals, textiles, mining, wood processing, and pharmaceuticals. During the business networking session, enterprises from both countries explored opportunities and sought to establish new partnerships.