Egypt - gateway for Vietnamese products to Middle East
(VOV) - Egypt serves as an important gateway for Vietnamese products to penetrate the Middle East and North Africa, said participants at the Vietnam-Egypt Business Forum held in Cairo on September 7.
At the forum, representatives from the Vietnamese Ministry of Industry and Trade (MoIT) and Egyptian Chamber of Commerce provided businesses with updated information about economic development in the two countries.
Vietnamese and Egyptian businesses discussed and agreed on potential cooperation in agriculture, seafood, industry, construction materials and veterinary medicine in the coming time.
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Tran Quang Huy, head of the MoIT’s South-West Asian and African Department, said two-way trade turnover between the two countries reached nearly US$400 million last year and around US$200 million in the first half of this year.
To lift the bilateral trade value to US$1 billion as set by the two countries’ leaders needs drastic involvement of management agencies in creating a favourable legal framework for businesses. Besides, domestic businesses should actively seek investment opportunities in Egypt, Huy said.
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Huy hoped that the forum will contribute to fostering economic and trade cooperation between the two countries.
The Vietnamese Embassy and the MoIT will coordinate with the Alexandria Chamber of Commerce to hold another business forum in Alexandria City in Egypt on September 10.