September 28, 2010

Vietnam sees prospective agro-forestry, fisheries market in Egypt

Vietnam's firms can open their representative aquaculture, agro-forestry and fisheries offices in Egypt to benefit from the country's export preferential policies to other Middle East markets, said an Egyptian official.

Hosam Baharia, Head of the Federation of Egyptian Chambers of Commerce's External Relations Section, said two-way trade will increase fast as Egypt has a big demand for farm products and Vietnam's high-quality and diversified products will meet Egyptian consumers' different tastes.

For his part, Deputy Minister of Agriculture and Rural Development Diep Kinh Tan said that two-way trade between the two countries recorded an on-year rise of 24% to more than US$200 million last year with Vietnam's seafood exports making a large proportion.

"In the context of the global economic crisis and unfavourable information on Vietnam's seafood quality in Egypt in the past, the increase is a positive sign of the two countries' cooperation potential, reflecting Vietnam's seafood quality and prestige to Egyptian consumers. The result was attributable to the exchange of information and working delegations and other trade promotion activities," Tan said.

He went on to say that Egypt highly valued Vietnam's environmental-friendly agro-forestry and fisheries production process that meets quality and hygienic safety requirements.

Vietnam's agro-forestry and fisheries export revenues has increased over recent years to almost US$16.5 billion by the end of 2009. Vietnam's seafood has been exported to more than 150 countries and territories. However, Vietnam's agro-forestry and fisheries market-share at Northern Africa, especially Egypt, remained modest and failed to meet the two countries' potential and demand.