Vietnam Seeks Deeper Trade And Agricultural Partnership With Nigeria

The Vietnamese government has expressed its interest in expanding cooperation with Nigeria in areas such as trade, agriculture, education, and security.

Vietnam’s Ambassador to Nigeria, Bui Hung, made this known on Tuesday in Abuja during events marking the 80th anniversary of the August Revolution and the founding of Vietnam’s Ministry of Foreign Affairs.

Hung noted that while trade relations have improved, there is still significant untapped potential. He disclosed that bilateral trade rose to $1 billion in 2024, up from an average of $600 million in previous years, mainly due to Vietnam’s increased crude oil imports from Nigeria.

“Last year was the first time our trade volume reached $1 billion, largely because of oil purchases. But oil and gas should not be the main focus. Agriculture offers more sustainable opportunities,” the envoy said.

According to him, Vietnam currently exports electronics, textiles, footwear, and other consumer goods to Nigeria while importing cashew nuts and limited agricultural products in return. He identified rice as a key challenge, noting that high tariffs and taste preferences have hindered access to Nigeria’s market.

“Vietnamese rice faces nearly 70 percent tariffs in Nigeria, and while Nigerians prefer basmati, ours is jasmine and sticky. Yet globally, our rice is in high demand, with major buyers including the US, Japan, and Southeast Asia,” he explained.

The envoy suggested stronger collaboration in agriculture, highlighting Vietnam’s expertise in rice production. He revealed that one Vietnamese farmer is already cultivating rice successfully in Benue State, demonstrating the potential for partnerships in the sector.

Hung also disclosed that a proposal for a Free Trade Agreement between the two countries has been awaiting Nigeria’s response for over a year. “Such an agreement would reduce tariffs and enhance trade flows, as we have achieved with Japan, Korea, and others,” he said.

On security and defence, he said military exchanges already exist, with some Nigerian officers receiving training in Vietnam. “We are open to expanding this cooperation, including technology transfer,” he added.

The ambassador further emphasized education and skills development, stating that Nigerian students are already studying maritime, agribusiness, and ICT in Vietnam. He said Vietnam is willing to host more students and professionals for training, especially in emerging fields such as artificial intelligence.

While acknowledging challenges such as insecurity, Hung expressed optimism about future cooperation. “Nigeria has fertile land, abundant water, and a young workforce. With the right framework, we can build stronger ties that benefit both nations,” he concluded.