Vietnam eyes US$200 million export trade with Egypt

Vietnam is hoping to earn at least US$200 million in exports to Egypt this year, up 25% on 2009.

According to the Vietnamese Trade Counsellor in Egypt Dang Ngoc Quang, two-way trade between Vietnam and Egypt remained steady over the past year, despite numerous difficulties caused by the global economic crisis.

Vietnam earned about US$165 million from exports to Egypt last year and imported products worth nearly US$20 million. However, some key Vietnamese exports, such as seafood, saw a sharp reduction in turnover last year.

The two countries plan to convene a meeting of their joint committees in 2010 to review and implement a wide range of activities in various fields, including economics, trade and tourism.

At a trade meeting in Cairo in 2008, Egyptian officials proposed boosting bilateral cooperation in seafood, renewable energy, oil and gas, pharmaceuticals, IT and tourism.