Vietnam and Senegal promote exploitation of trade potential, diversify markets

Within the framework of the working program in Senegal from May 11 to 15, 2025 , the Vietnam Trade Office in Algeria concurrently serving in Senegal and the Dakar Chamber of Commerce, Industry and Agriculture jointly organized a direct and online trade conference between the two countries on May 14, 2025 , with the participation of 60 businesses in the fields of agricultural products, food, industrial goods, services...

Speaking at the event, Mr. Mbaye Chimère NDIAYE, Secretary General of the Dakar Chamber of Commerce, Industry, Agriculture and Agribusiness, was pleased to see that the workshop has been held annually, creating conditions for connecting businesses of both sides, contributing to the development of the private economic sector on the basis of mutual benefit. He also expressed his hope that, in addition to trade transactions, Vietnamese and Senegalese businesses need to establish partnerships, investments, joint ventures, linkages, and open processing factories in Senegal to exploit local raw materials such as raw cashew nuts and cotton, contributing to increasing added value and creating jobs. Senegal is a West African country with a stable political situation, open trade policies, and Dakar seaport as a transit point for goods for landlocked countries in the sub-region. With the exploitation of oil resources, development of infrastructure, services and strong economic reform measures, Senegal's economy is forecast by the International Monetary Fund (IMF) to achieve economic growth of 8.4% this year, among the highest in Africa.

  Scene of the Vietnam-Senegal online trade conference at the headquarters of the Chamber of Commerce, Industry and Agriculture in Dakar, Senegal

On this occasion, Commercial Counselor Hoang Duc Nhuan introduced the economic and trade cooperation situation between the two countries. Vietnam and Senegal signed a Framework Agreement on Economic, Trade, Cultural, Scientific and Technical Cooperation (1995), a Tripartite Cooperation Agreement between Vietnam-FAO-Senegal (1996). The Vietnam Federation of Commerce and Industry (VCCI) also signed a cooperation agreement with the Dakar Chamber of Commerce, Industry and Agriculture in 2012.

According to data from the International Trade Center (ITC) and the Vietnam Customs Department, in 2023, trade between Vietnam and Senegal reached 107.46 million USD, an increase of 52.4% compared to 2022, of which our country's export turnover to this market reached 37.8 million USD, mainly agricultural products and food. Vietnam's import turnover from Senegal in 2023 reached 69.66 million USD, mainly raw cashew nuts (up to 60.77 million USD), fish meal for animal feed, seafood, seeds, oil fruits, cotton... In the first 4 months of this year alone, Vietnam's export turnover to this market has made a leap, up to 43.43 million USD, almost equal to the whole year of 2024 (43.91 million USD), of which, rice exports reached 25.67 million USD, pepper 6.8 million USD, vegetables and fruits 1.7 million USD, confectionery, auto parts, motorbikes, seafood...

Senegal is the third largest rice consumer in Africa after Nigeria and Côte d'Ivoire. Each year, the country imports between 800,000 and 1 million tons of rice, of which more than 90% is 100% broken rice. Vietnamese 100% broken fragrant rice is sold in supermarkets in Senegal in 5kg and 25kg bags, priced at around $1.30/kg.

100% broken Vietnamese fragrant rice packaged in 5kg bags sold at supermarkets in Senegal

At the workshop, Senegalese businesses expressed interest in importing rice, spices, coffee, tea, construction materials, wooden furniture, packaging, school supplies, etc. from Vietnam. Some overseas Vietnamese businesses are looking for suppliers of dry goods such as rice paper, spring rolls, pho noodles, fish sauce, etc. to serve Asian restaurants. Senegalese businesses also want to boost exports of key products such as raw cashew nuts, cotton, seafood, fish meal for animal feed, etc.

Senegalese delegates highly appreciated the experience and financial potential of Vietnamese enterprises and wished to find partners to jointly invest in production and processing of goods in Senegal or import products to serve the local market as well as export to other countries in the region to take advantage of the African Continental Free Trade Agreement (AFCFTA).

Senegalese businesses also raised some obstacles in trade transactions such as trust issues in payment, cashew exports to Vietnam still going through intermediaries, visa issues...

To promote economic and trade relations between Vietnam and Senegal, delegates recommended that the two countries should complete the legal framework in the fields of trade, industry and investment; establish a Vietnam-Senegal business council; actively organize trade promotion activities, seminars and business forums, and promote the potential and strengths of each country; increase delegation exchanges, create conditions for businesses of both sides to participate in international fairs and exhibitions such as Vietnam Expo, Vietnam International Sourcing Expo, Vietnam Food Expo or Senegal's Dakar International Fair; coordinate in introducing business and investment opportunities, support companies of both sides in verifying partners as well as consulting on resolving arising disputes; appoint an honorary Vietnamese consul in Senegal, etc.

On the sidelines of the Workshop, the Trade Office organized an exhibition of catalogues and sample products of Vietnamese enterprises at the headquarters of the Dakar Chamber of Commerce, Industry and Agriculture, and invited delegates to enjoy Vietnamese products such as coffee and confectionery.                

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Source: Vietnam Trade Office in Algeria concurrently serving in Senegal

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/viet-nam-va-senegal-day-manh-khai-thac-tiem-nang-thuong-mai-da-dang-hoa-thi-truong.html