FG urges Vietnam to raise trade volume to $2bn

The Nigerian government has called upon Vietnam to boost bilateral trade to $2 billion, according to Ambassador Dunoma Ahmed, the Permanent Secretary of the Ministry of Foreign Affairs. This request was made during a reception held in Abuja to commemorate the 81st National Day of Vietnam and the 50th anniversary of diplomatic relations between Nigeria and Vietnam.

Currently, the trade volume between the two countries stands at over $1 billion, and Nigeria is eager to deepen the partnership in order to grow its own economy. Ahmed expressed hope that Ambassador Hoang, the Vietnamese Ambassador to Nigeria, would help increase the trade volume to $2 billion, as Nigeria aims to become a $1 trillion economy.

The two nations have maintained a steady and productive cooperation for the past five decades, particularly in agriculture, trade, investment, defence, and multilateral diplomacy. Both countries are strategic partners in West Africa and beyond, symbolizing the spirit of South-South cooperation, Ahmed emphasized. He highlighted the commitment of the Federal Government to expand bilateral cooperation across various sectors such as agro-agricultural processing, renewable energy, digital economy, pharmaceuticals, skills development, and manufacturing.

The Vietnamese Ambassador to Nigeria, Le Viet Hoang, echoed the sentiment of expansion, stating that Vietnam is eager to share its expertise in high-tech agriculture, rice value chains, aquaculture, and agro-processing to support Nigeria's food security efforts. The Embassy also identified areas such as telecommunications, infrastructure, e-commerce, and financial technology as potential avenues for deeper cooperation between the two countries.