At the trade and promotion seminar in Ho Chi Minh City on September 25. (Photo: VGP)

At the event, jointly held by Ho Chi Minh City’s Investment and Trade Promotion Centre (ITPC) and Ghana Investment Promotion Centre, ITPC Deputy Director Dao Minh Chanh spotlighted the significant progress in the Vietnam – Ghana partnership over the past time, particularly in trade, elaborating Ghana is now the largest trading partner of Vietnam in the Western African region, with two-way trade reaching 733 million USD in 2023.

The two countries will develop bilateral ties, especially in the economy, to a deep and substantive manner time towards the 60th celebration of the diplomatic relations in 2025, he added.

According to statistics from the General Department of Vietnam Customs, two-way trade during January – August was estimated at 560.7 million USD, with Vietnam’s export revenue worth 282.3 million USD. Vietnam shipped rice, confectionery and garment and textile to Ghana and bought cashew and wood from the nation.

Chanh said Ho Chi Minh City exported 35.2 million USD worth of products to Ghana in the first half, up 22% year-on-year. The ITPC wants to bolster connectivity between Vietnamese enterprises and those from Ghana and commits to promoting trade and investment activities as well as create favourable conditions for businesses of both sides to expand their markets.

Deputy Minister for Foreign Affairs and Regional Integration in charge of Political and Economic matters Kwaku Ampratwum-Sarpong stressed that the two countries boast various cooperation opportunities in the areas of trade, investment, high-tech agriculture and energy.

Ghana has penned strategies to diversify its economy, including the facilitation of business conditions for investors, he said, stating the country is calling for investments in high-tech agriculture, infrastructure development, energy and tourism while Vietnam has strengths in rice and fisheries farming.

The country wants to work with Vietnamese partners to take the cocoa business and its production to the next level, he added.