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Prince Kayode lead business delegation to Vietnam

Prince Kayode lead business delegation to Vietnam

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The President of Abuja Chamber of Commerce and Industry (ACCI), Prince recently led a multi-setoral business delegation from Nigeria to Vietnam to explore areas to deepen economic ties between the two friendly countries.

This was during a follow up of an earlier Vietnam business visit to West Africa which took place in June, 2018.

Prince Kayode who stressed the need for the two friendly countries to expand and consolidate on the economic ties they already have used the occasion to express Nigeria’s readiness to move from been raw exporter of items to processed and semi-processed items thereby deepening economic integration.

Another issue he commented on was the massive trade volume between the countries across mainly raw materials such as cashew nuts, wood, mobile phones, electronics, textiles, plastic, chemicals, machinery, footwear among others..

He made case for diversification into other similarly important areas like oil and gas, maritime, mining, construction, electricity, agriculture (rice), cement, transportation, engineering, telecommunications and education in order to maximally tap into them and add value.

As he envisaged a long term collaboration and partnership, he argued in favour of a win-win situation that will make way for joint projects, establishment of special economic zones for Vietnamese companies and organisations in Nigeria.

Prince Kayode further emphasised that ACCI is willing, ready and prepared to partner with the investors in the earlier mentioned sectors in order to add positive value to the society.

During the discussion forum, the President announced the intention to set up a common platform for sharing information as well as cross-fertilizing ideas with the ultimate aim of liaising with other African countries and ensure that in the next meeting, discussions will be based on figures, timelines and concrete achievements.

In the earlier visit to West Africa, Mamadou Traore, ECOWAS Commissioner For Industry And Private Sector Promotion in his speech captured the very essence of the Vietnemese doing business with the sub-region, pointing out in concrete terms the indices that makes for abundance of opportunities.

The commissioner after appreciating the trade relations between the sub-region and the country called for expansion into several other areas of competitive, comparative and monumental advantages based on the available skills, demographic dividends and wide resource base.

Vietnam Ambassador to Nigeria, Pharm. Anh Tuan explained the journey so far which have accounted for closer ties between Nigeria and Vietnam which has raked in mutual benefits.

He believed that with the need to enter the regional market through West Africa more vista of cooperation, development, manufacturing, distribution and improvement in the livelihoods of the people will be greatly improved.
He commended ECOWAS through FEWACCI in facilitating the visit to the sub-region noting that import, export, manufacturing and distribution of goods in the area will take a better shape now.

He called more efforts and ideas geared towards sustaining the initiative to be brought forth for all interested bodies to key into.

Other stakeholders who spoke at the event included the Head of Emerging and Developed Markets Division in ECOWAS and Chekou Oussouman of the Organisation Internationale De La Francophone both of who called on the Organised Private Sector (OPS) to take ownership of the initiative and drive the process.

Meanwhile, the leader of the business delegation, the Deputy Director General in charge of Asia and Africa Market Department, Ngo Khai Hoan underscored the activities of the Vietnamese businessmen in the sub-region, summarising it as been ‘so far, so good’.

He painted the picture of businessmen who are eager to go into many other new emerging market opportunities in several sectors in addition to consolidating on the already existing ones.

Accordingly, he said due to the squeeze in their home market due to excessive production of the basic needs of their country, they were determined to explore the sub-region to create more avenues to do businesses herein.
No doubt, he made a clear presentation on the monumental achievements so far recorded in trading with the sub-region emphasising that, even at the global level, they have a well organised economic base which has lifted their population and made giant strides.

Major sectors that came under focus during the meetng Plywood/wood processing, footweear, cashew farming/processing, cotton farming/processing, cocoa farming/processing, textile mills, garment industries, motor/tricycle as well as truck manufacturing and assembly.

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