The Embassy of Vietnam, in partnership with the Nigeria-Vietnam Economic, Trade, and Cultural Association (NVETCA), is set to host a high-level business roundtable aimed at strengthening trade and economic ties between the two nations. The meeting, co-hosted by Vietnamese Ambassador H.E. Bui Quoc Hung and NVETCA Chairman Sani Bako, will focus on expanding collaboration in key sectors such as agriculture, food processing, import and export, manufacturing, infrastructure, and information technology.
In a statement released by NVETCA’s Group Director of Strategic Communications and Marketing, Wale Akintade, it was emphasized that the time is ripe for both countries to fully harness their trade potential. Since establishing diplomatic relations in 1976, trade between Nigeria and Vietnam has remained limited to a few commodities and sectors despite the enormous opportunities for growth.
Akintade noted that the roundtable presents a unique opportunity for economic expansion, highlighting how Nigeria’s strengths in oil and gas, agriculture, and manufacturing can complement Vietnam’s expertise in technology, textiles, and electronics. He further added that Vietnam’s success in exporting to markets like the US and China could help Nigeria expand its global reach.
Key areas of focus for the meeting include agricultural trade, where Nigeria can export products like cashews and cocoa to Vietnam while importing machinery and technology. Both countries will also explore energy cooperation, with Nigeria’s oil and gas reserves and Vietnam’s renewable energy experience offering mutual benefits.
Additionally, the roundtable will explore opportunities for Nigeria to leverage Vietnam’s expertise in infrastructure development and digital economy growth, particularly in the fintech sector.
Federal and State Government officials, business chambers, and key stakeholders from both countries are expected to attend the event, which NVETCA hopes will unlock new avenues for trade and cooperation, driving economic growth for both nations.
