Nigeria’s Vice President, Yemi Osinbajo will today embark on a reciprocal visit to the Southeast Asian nation, Socialist Republic of Vietnam for high-level bilateral engagements that will strengthen trade relations between both countries.
Osinbajo is expected to have meetings with the President of Vietnam, Nguyễn Xuân Phúc; Vice President, Pho Chu Tich Nuroc; Prime Minister, Pham Minh Chinh, other government officials, and the business community.
Recall that 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.
Just as the Deputy Prime Minister, who was accompanied to Nigeria by senior Vietnamese Government officials and businessmen at the time, it was revealed that Nigeria is Vietnam’s largest trading partner in Africa. Indeed trade between both countries stood at US$280 million in 2014 and increased to over US$500 million in 2019.
The presidential spokesman, Laolu Akande, in a statement issued, said that 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 Southeast Asian country after President Olusegun Obasanjo.
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During the visit to the Socialist Republic of Vietnam, the Vice President is expected to witness the signing of a Memorandum of Understanding (MoU) 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.
He will also participate in a Business Forum at the Vietnamese Chamber of Commerce aimed at matchmaking entrepreneurs from both countries.
The statement noted that 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 thereby deepening the friendly and trade relations of both countries.
Osinbajo is expected to conclude the Vietnam visit on Wednesday.