Vietnamese, Egyptian enterprises strengthen connectivity
A Vietnam-Egypt business matching was held in Giza city on December 13, as part of the activities to mark the 60th anniversary of the two countries’ diplomatic relations.
The event attracted the participation of representatives from more than 40 Egyptian enterprises and several Vietnamese firms.
Vietnamese Ambassador to Egypt Nguyen Huy Dung said that trade cooperation between the two countries was established even earlier than diplomatic relations, as Vietnam's trade office in Egypt was set up in 1958.
Dung said the Vietnamese Government has identified three new drivers for economic growth, with one being expanding trade relations with new markets in the Middle East, Africa, and South America, as well as with traditional markets, and Egypt is one of Vietnam's largest markets in the region with geopolitical advantages.
Egypt is located at the intersection of the three continents of Europe, Africa, and Asia. The North African country is a member of the African Continental Free Trade Area (AfCFTA) and will soon become a member of the BRICS group of emerging market nations. Meanwhile, Vietnam is a gateway to the ASEAN market with more than 650 million people, he noted.
The diplomat stressed that there remains an ample room for Vietnam and Egypt to enhance their cooperation, along with a lot of opportunities to expand markets.
He expressed his belief that the two countries can work together to increase bilateral trade from US$595 million in 2022 to US$1 billion in the near future.
Head of the Giza Chamber of Commerce Osama Al-Shahed said that Egypt and Vietnam hold great cooperation potential in different fields, and proposed the two sides collaborate in implementing joint production projects in any industrial parks in Giza province.
They also agreed that the two sides need to strengthen connections between the two countries' business communities through business forums, trade-investment promotion seminars and trade fairs.
At the forum, participants exchanged information on each other's market needs as well as cooperation opportunities. Many Egyptian businesses showed interest in Vietnamese goods, especially agricultural and aquatic products.
