VOV.VN - The Middle East and Africa have become a potential market for Vietnamese exporters with an import value of US$480 billion last year.
The Ministry of Industry and Trade (MOIT) will hold a seminar in Hanoi on November 21 to update domestic businesses with market information, trade policies, trading habits and import demands of Middle East and African countries.
Main speakers will be representatives from the MOIT, and embassies of the UAE and South Africa in Hanoi.
The Middle East and Africa are considered a potential market with high import demands without strict requirements on the quality of products, said a MOIT representative. Import value of the Middle East hit US$807 billion last year and is expected to rise to US$1,500 billion by 2020.
Vietnam has potential to export rice, tea, coffee, pepper, natural rubber, cashew nuts, fruits, seafood, garment, footwear and handicraft products to the Middle East.
According to MOIT’s statistics, import-export values between Vietnam and the Middle East have constantly increased in recent years, reaching US$10.887 billion last year, up 100% against 2011, of which Vietnam’s exports to the Middle East were valued at US$8.059 billion and imports were at US$2.828 billion.
Meanwhile, trade turnover between Vietnam and African countries reached US$5.364 billion last year, including Vietnam's exports of US$2.762 billion and imports of US$2.602 billion.