Vietnam has concluded plans to buy coal from South Africa as the South-East Asian country continues its post-COVID-19 economic recovery.
During his meeting with South African ambassador Mpetjane Kgaogelo Lekgoro on April 2, Vietnam’s Minister of Industry and Trade Nguyen Hong Dien emphasized the importance of diversifying coal supply sources to help Vietnam’s post-pandemic economic recovery.
Dien states that despite the COVID-19 pandemic, trade between the two countries remains stable at $1.39 billion. South Africa is Vietnam’s largest trade partner and export market in Africa.
It is clear that the bilateral trade between the two sides has much potential and potential for growth in the future.
South Africa’s coal mining and export capabilities were highly valued by the minister, and he requested the ambassador to help establish connections between South Africa and major Vietnam companies like the Vietnam National Coal and Mineral Industries Group and the Vietnam Electricity Group so that coal can be delivered to the Southeast Asian nation by the end of April or early May.
The coal mined in South Africa has a high quality and can be used in power plants and manufacturing industries in Vietnam, he says.
He expressed hope that the memorandum of understanding on cooperation in the mineral sector will be signed soon, adding that it can serve as a framework to boost both the partnership and trade between the two countries.
The host also highlighted some areas of cooperation in 2022, which include holding the fifth joint trade committee meeting, increasing the presence of Vietnamese goods at South African supermarkets, and intensifying our cooperation in mining, metallurgy, textiles, and fertilisers.
Ambassador Lekgoro stressed the importance of and desire for further intensifying trade, energy, and mineral relations with Vietnam.
He said he would work closely with the Vietnamese ministry and relevant agencies of South Africa to address the issues Dien raised.
Additionally, he urged Vietnam to create favorable conditions for the local market to accept his country’s strong products.