The Vietnamese government has demanded deeper trade, agricultural, educational, and security collaboration with Nigeria. During events commemorating the 80th anniversary of the August Revolution and the Ministry of Foreign Affairs of Vietnam, Bui Hung, Vietnam's ambassador to Nigeria, made the call Tuesday in Abuja. Despite recent advancements, Hung pointed out that both nations' growth potential is mostly unrealized.
He claims that trade between Nigeria and Vietnam increased to $1 billion in 2024 from an average of $600 million in prior years. "We purchased more crude oil from Nigeria last year, which was a major factor in our trade volume reaching $1 billion for the first time.
But the focus shouldn't be on gas and oil. "I think there are more sustainable opportunities in agriculture," he stated.
According to the ambassador, Vietnam now imports cashew nuts and a few agricultural products from Nigeria in exchange for exporting consumer goods, clothing, electronics, and footwear. Nonetheless, he recognized trade constraints for rice as a significant constraint.
Due to extremely high tariffs—nearly 70%—Vietnamese rice has had it difficult breaking into the Nigerian market.
Taste preference is another aspect; our rice is jasmine and sticky, whereas Nigerians prefer basmati. The US, Japan, and Southeast Asia are the top importers of our rice worldwide, he continued.
Citing Vietnam's experience in rice farming, Hung proposed agricultural cooperation as a workable substitute. "We can collaborate with Nigerian farmers by bringing our farmers, technology, and seeds. In Benue State, one Vietnamese farmer is already cultivating rice with success, he said.
A proposal for a free trade agreement between the two nations has been languishing for almost a year, the ambassador further revealed. We can boost trade flows and reduce tariffs by establishing such an agreement. We have done this with Korea, Japan, and numerous other countries. Nigeria's response is still pending," he stated.
Regarding defense and security, Hung reminded everyone that there are currently military exchange programs in place. "A few Nigerian officers have received excellent evaluations regarding their training experience in Vietnam. He stated, "We are willing to extend this collaboration, including the transfer of technology." He also emphasized the importance of education and skill development.
In Vietnam, Nigerian students are pursuing studies in ICT, agribusiness, and maritime. To increase capacity, particularly in the age of artificial intelligence, we are also willing to welcome additional professionals and students," he stated.
Despite recognizing obstacles like insecurity, Hung was upbeat about the prospects for the two countries' relationship.
Nigeria boasts a youthful labor force, plenty of water, and fertile land. We can create solid relationships that are advantageous to both countries if we have the proper foundation for cooperation," he said.