The conference was organised by the Vietnamese Ministry of Industry and Trade (MoIT) in coordination with the Nigerian Chamber of Commerce and Industry aiming to promote trade and investment between the two countries.

Phan The Hao, MoIT chief representative in Ho Chi Minh City, said that the conference provided a good opportunity for businesses from both countries to meet and exchange information about the consumer market, supply chain and payment methods and possibly sign some contracts. He expressed his hope that businesses will establish ties and become trusted partners.

Tran Quang Huy, Deputy Head of the MoIT’s Department for African, and West-South Asian Markets, said that Vietnam considers Nigeria as a potential market in Africa and a gateway to its neighbouring countries in West African countries. Vietnam also wants to boost economic, trade and industrial co-operation with Nigeria, but, businesses in the two countries have not yet worked closely with each other.

Two-way trade between the two countries has increased steadily in recent years and reached nearly US$140 million in the first nine months of this year. Vietnam mainly exports rubber, wood products, electrical and electronic products, footwear, plastics, handicrafts and construction materials to Nigeria and imports raw cashew nuts, fruit, cotton and minerals.

Tunde O.Ajisomo, a representative of the Nigerian embassy in Vietnam, called on businesses to co-operate in all fields and said he was committed to supporting Vietnamese businesses with administrative and immigration procedures and obtaining necessary information about consumer markets.