Vice President Yemi Osinbajo departs Abuja today for the Socialist Republic of Vietnam for high-level bilateral engagements in the South East Asian nation including meetings with the President of Vietnam, President Nguyễn Xuân Phúc; the Vice President, Mr. Pho Chu Tich Nuroc; the Prime Minister, Pham Minh Chinh, other government officials and the business community.
The Vice President’s reciprocal visit to the South East Asian nation will further strengthen trade and bilateral relations between both countries.
In view of the trade and bilateral relations between both countries, then Deputy Prime Minister of Vietnam, Vuong Hue, had visited Nigeria in October 2019, and met with Osinbajo, other senior Nigerian government officials and also interacted with the Nigerian-Vietnam Business Association.
As the Deputy Prime Minister, who was accompanied to Nigeria by senior Vietnamese Government officials and businessmen at the time, noted then that Nigeria is Vietnam’s largest trading partner in Africa.
Indeed trade between both countries stood at $280 million in 2014 and increased to over $500 million in 2019.
Although Nigeria and Vietnam have maintained long-standing diplomatic relations since 1976, Vice President Osinbajo will be the second Nigerian high ranking government official to visit the South East Asian country after President Olusegun Obasanjo.
During the visit to the Socialist Republic of Vietnam, the Vice President is expected to witness the signing of Memorandum of Understanding and Agreements between Nigeria and Vietnam, as well as hold high level diplomatic discussions with his Vietnamese counterpart, and other important issues on trade, commerce, agriculture, technology and innovation.
Osinbajo will also participate in a Business Forum at the Vietnamese Chamber of Commerce aimed at matchmaking entrepreneurs from both countries.
With the opportunities existing in agriculture and technology in Nigeria and Vietnam, discussions by both countries would focus on mutual benefits from effective collaboration in these sectors and thereby deepen the friendly and trade relations of both countries.
The Vice President will conclude the Vietnam visit on Wednesday.