Addressing the event in Hanoi, VCCI President Vu Tien Loc said Sudan is known as the granary of the Middle East and has an abundant supply of natural resources such as oil, gold, iron ore, copper, zinc and silver.

He underlined that accelerating the relationship between the two countries is among the major tasks identified by both governments.

Ali Karti, Sudan’s Secretary of State said Sudanese enterprises want to increase cooperation with their Vietnamese partners, especially in the agriculture and oil and gas industry.

Known as a gateway between Africa and the Middle East and the largest of the leading members of the common market in South-eastern Africa, Sudan is a partner of great potential for Vietnam.

Bilateral trade between the two countries has significantly increased in recent years, topping US$63.4 million in 2008 from less than one million USD in 2002. In 2008, Vietnam exported US$23.9 million worth of various items mainly computers, electronic appliances and spare parts, garments, rice, coffee, bags, leather wallets and purses.

The impact of the global financial crisis in 2009 slowed Vietnamese exports to the African country. In the first six months of this year, Vietnam earned US$14.75 million in exports to Sudan and imported US$750,000 worth of goods.

Tran Quang Huy, Deputy Chief of the African – Western and Southern Asian Markets Department under the Ministry of Industry and Trade (MOIT), called for further efforts by both governments to improve the legal environment, sign bilateral agreements on investment protection, double taxation avoidance, and banking, transportation and oil and gas cooperation.

Huy urged an increased exchange of information between both sides regarding trade and investment policies, trade promotion activities such as trade fairs and exhibitions in both countries and making an inventory of each country’s import needs and export capacity.