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South African business council debuts
The Viet Nam-South Africa joint business council made its debut in HCM City last Friday with the aim of providing an effective channel between enterprises and governmental agencies of the two countries.
Do Thi Kim Lien, General Director of AAA Insurance Company and Consul of Honour of South Africa in Viet Nam, was named the President of the council.
In her address at the launching ceremony, Lien said the council's official operation would act as a bridge for enterprises in both countries to boost co-operation.
Visiting South African Deputy Minister of Water and Environmental Affairs Rejoice Mabudafhasi attended the launch and invited Vietnamese enterprises to visit South Africa to seek investment opportunities.
The Viet Nam-South Africa joint business council aims to help strengthen co-operation between business circles of both countries in many areas of trade, investment, science, technology and tourism.
Deputy General Secretary of the Viet Nam Chamber of Commerce and Industry Vo Tan Thanh said South Africa had emerged as a new market with great potential for Vietnamese enterprises.
Trade turnover between the two countries has seen marked results in recent years. In 2009, Viet Nam earned US$218 million from exports to South Africa and paid $78 million for imports.
In the first five months of this year, two-way trade hit $241 million, including $160 million worth of Vietnamese exports.
Viet Nam exports rice, footwear, garments and textiles, coffee, wood products, and fine arts and handicrafts to South Africa. Rice accounts for about 50-60 per cent of the's total export value so far this year.
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