On 02/08/2017, the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Tanzania Investment Promotion Center to held the "Vietnam - Tanzania Business Forum" with the participation of many enterprises of two countries. At the seminar, A & T Trading Company had an opportunity to expand cooperation with Tanzania government delegations and businesses.
In spite of being geographically distant, Vietnam and Tanzania have a long-lasting cooperative relationships and are eager to develop this relationship in many areas, particularly in economy, trade, industry and investment.
Speaking at the forum, Mr. Dao Duy Khuong, Vice President of VCCI, said, Vietnam always sees Tanzania as a large, potential market in East Africa, which is a gateway to penetrating its neighboring countries. The trade agreement signed between the two countries in 2011 with the MFN status in bilateral trade which has opened up new business opportunities for enterprises of the two countries. This is actually an important legal framework for exchanging and trading goods between two parties.
Also at the forum, Mr. Ngo Khai Hoan, Deputy General Director of the Africa, West Asia, South Asia Markets Department under the Ministry of Industry and Trade of Vietnam, said, the trade value between Vietnam and Tanzania has posted a strong growth in recent years, rising from US$60 million 2011 to US$175 million in 2016 to which Vietnam ran a big deficit, of which Vietnam exported $ 29 million and imported $ 145 million. Tanzania is a major supplier of cashew nuts and cotton in Vietnam. In the first three months of 2017 alone, Vietnam imported about US$200 million worth of Raw cashew nuts from Tanzania.
In addition, some important export items of Vietnam have initially dominated the Tanzania market, mainly textiles and rice. On the other hand, Tanzania has a high demand for importing equipment and technology for cashew processing from Vietnam. Tanzania is also looking forward to cooperating with Vietnam in the areas of textiles, dairy, fruit juice and especially agricultural cooperation.
At the forum, A & T Trading Joint Stock Company had a meeting with Tanzania governmental delegations and businesses, thus unifying the cooperation, trade promotion and information exchange between two enterprises. In particular, the items are focused on developing include: Timber, raw cashew nuts, raw cotton and fishery as well as livestock sector.
At the same time, A & T Trading Joint Stock Company also wished Tanzanian Government to provide legal support for further development in investment and trade among Vietnamese enterprises in Tanzania.
A & T staff met with General Director of CBT (Director of Cashew Board of Tanzania)
The Tanzanian government and businesses appreciated the practical cooperation proposals of A & T Trading Joint Stock Company. Hopefully in the future, the relationship between the two countries is growing.