Vietnam's exports and imports to the Middle East and Africa are increasing rapidly.

Two-way trade between Vietnam and the Middle East and Africa has increased more than tenfold, from US$2 billion in 2005 to US$20.8 billion in 2023.

Cooperative relationship trade economy Trade relations between Vietnam and countries in the Middle East and Africa have continued to develop positively in recent times, with the structure of import and export goods being complementary.

Two-way trade between Vietnam and the Middle East and Africa has increased more than tenfold, from US$2 billion in 2005 to US$20.8 billion in 2023. Vietnam's total import and export turnover to countries in this region is growing rapidly, ranking second only to the Americas.

Currently, exports from Vietnam to the Middle East and Africa focus on items such as rice, coffee, pepper, and seafood.

Vietnamese garments, footwear, electronics, and household goods have great potential in this market, especially in countries with young populations and a growing middle class.

Conversely, Vietnam can import oil, natural gas, and petrochemical products from the Middle East to meet its domestic economic development needs. African countries also supply large quantities of raw materials such as cotton, timber, and minerals, meeting the production needs of Vietnam's industries.

Vietnam's imports and exports to the Middle East and Africa are increasing rapidly. (Illustrative image.)

At the same time, Middle Eastern and North African countries have a high demand for imported Halal food due to limitations in agricultural production, and with a Muslim population of over 40%, the consumption of Halal products, especially processed foods, cosmetics, and pharmaceuticals, is increasing.

Meanwhile, Vietnam has strengths in the production of agricultural products, seafood, and processed foods, and is striving to raise standards to meet Halal requirements. In addition, Vietnam has a policy of developing relations with countries in the Middle East and Africa; this includes promoting cooperation in production and import. Halal certification. This also creates favorable conditions for Vietnamese businesses to export products to the Halal market.

In the field of logistics and maritime transport, with its strategic location, Vietnam has the potential to become a transit point for goods between Asia and the Middle East. Cooperation with leading logistics companies in the Middle East, such as DP World, will help improve the efficiency of the supply chain in the region, as well as between Vietnam and countries in the Middle East and North Africa.

Source: https://baoquangninh.vn/xuat-nhap-khau-cua-viet-nam-sang-trung-dong-chau-phi-tang-nhanh-3326080.html