The Federal Government has called on Vietnam to increase bilateral trade with Nigeria to $2 billion. Ambassador Dunoma Ahmed, Permanent Secretary at the Ministry of Foreign Affairs, made this request at a reception in Abuja on Friday evening, celebrating the 81st National Day of Vietnam and the 50th anniversary of diplomatic relations between the two nations.
Ahmed noted that trade between Nigeria and Vietnam currently exceeds $1 billion and expressed Nigeria’s desire to enhance this partnership as part of its economic growth strategy. He stated, “Currently, we have over one billion trade relationships. I hope, Your Excellency Ambassador, you will increase this one billion into two billion as Nigeria is looking forward to a one trillion-dollar economy.”
He highlighted the steady and productive cooperation between Nigeria and Vietnam over the past 50 years in areas such as agriculture, trade, investment, and defence. Ahmed added that both countries had numerous companies collaborating to contribute to national development, emphasising their significance as strategic partners in West Africa and beyond.
The Nigerian government is committed to expanding cooperation in fields including agro-processing, renewable energy, digital economies, pharmaceuticals, skills development, and manufacturing. Ahmed also encouraged greater skill exchanges and stronger connections between the people of both nations, particularly through youth collaboration.
Vietnamese Ambassador to Nigeria, Le Viet Hoang, noted the potential for expanding economic cooperation as they mark their five decades of diplomatic relations. He described Nigeria as one of Vietnam’s largest trading partners in Africa, with key products traded including Nigerian cashew nuts and liquefied natural gas, alongside Vietnamese rice and textiles.
Hoang expressed Vietnam’s readiness to share its expertise in high-tech agriculture and agro-processing to support Nigeria’s food security efforts. He also identified telecommunications, infrastructure, innovation, e-commerce, and financial technology as sectors ripe for deeper collaboration.
The ambassador invited Nigerian businesses to explore investment opportunities in Vietnam and assured that the Vietnamese Embassy would assist in facilitating Vietnamese business entry into the Nigerian market. The event reaffirmed both nations’ commitment to strengthening their bilateral ties.
