Africa is considered a potential export market for Vietnam but also contains many risks

Published 2021년 7월 23일

Tridge summary

The article highlights the potential of Africa as a market for Vietnamese products, with a focus on the demand for rice, coffee, and pepper. Vietnam is already the largest exporter of rice to Africa, meeting 40% of the continent's needs, and there is potential for growth in markets like Ivory Coast, Ghana, and Mozambique. Other products with demand include processed coffee brands and seafood. However, Vietnamese businesses face challenges such as market and legal regulations, competition from other Asian countries, high import taxes, and the need to adapt to African consumer tastes and Halal certification requirements. The article emphasizes the need for careful market research and strategy to succeed in the African market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Africa is considered as a potential and diverse new market for Vietnam's advantageous products, but barriers from Muslim markets require Vietnamese businesses to adapt... At the webinar "Africa - Promising destination for Vietnam's trade promotion activities", Ms. Nguyen Minh Phuong, Asia-Africa Market Department (Ministry of Industry and Trade) said, currently, Vietnam's largest export product to 54 African countries is rice, which accounts for 20% of Vietnam's total exports to Africa. Meanwhile, African rice production only meets 60% of the region's needs. Therefore, Vietnamese rice can boost exports to African countries, especially Ivory Coast, Ghana, and Mozambique. In addition, Africa also has a great demand for coffee and pepper. Every year, Africa spends about 750 million USD to import coffee. Vietnam is one of the five main supply markets. In addition to raw export, a number of Vietnamese processed coffee brands such as Trung Nguyen and King Coffee are also interested in ...

Source: Vinacas