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Lack of market info hinders Nigeria trade
Modest trade with Nigeria was attributed to lack of commercial information and inadequate understanding of each other's potential, Vietnamese Trade Counsellor in Nigeria Pham Van Cong said during a seminar in Ha Noi on Friday.
Cong called on Vietnamese firms to take the initiative in meeting Nigerian counterparts to find co-operation opportunities.
"The Viet Nam Government always creates the most favourable conditions for Nigerian firms to seek partners to promote bilateral economic and trade relations," he said.
Seminar participants agreed Nigeria was a potential market and an important target for Vietnamese firms.
Attended by 17 Nigerian businesses, the seminar was organised by the Ministry of Industry and Trade, the Viet Nam Trade Office in Nigeria and the Viet Nam National Trade Fair and Advertising Company.
Viet Nam and Nigeria signed a trade agreement in 2001. Two-way trade reached US$100 million last year with Viet Nam's key export staples of textiles and garments, electronics, footwear and handicrafts; imports included unprocessed cashew nuts, fruits, cotton and minerals.
Measures to promote co-operation were discussed, including more high-level visits, fairs and exhibitions.
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