Saudi-Vietnam trade ties gain momentum
HO CHI MINH City - Trade between Vietnam and Saudi Arabia has achieved traction in the last few years, opening new opportunities for bilateral cooperation, Minister of Industry and Trade Vu Huy Hoang has said.
Two-way trade was worth $291 million last year, with Vietnamese exports topping $118 million, Vietnam news agency (VNA) reported Monday.
In the first half of this year, Vietnam’s exports were worth $28 million and imports, $65 million.
Vietnam’s major export items were textile and garment, seafood, coal, tea, computers, electronics components, footwear, wooden products, plastic products, handicrafts, and bamboo and rattan items.
From Saudi Arabia, it imported plastic raw materials, chemical products, automobiles, animal feed, and steel.
According to the ministry’s Exports-Imports Department, Saudi Arabia is a major market in the Gulf which has great demand for the country’s exports.
A number of Saudi projects operate successfully in Vietnam, including Zamil Steel in Ba Ria-Vung Tau province and Raffles Resort in Da Nang City. – SG
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