Prospects for trade - economic cooperation between m w88 - Africa

To implement the Programme of the Government, Ministry of Industry and Trade issued the Action programme with the overall goal to promote trade- economic cooperation with African markets, promote exported products have strength into other countries in the region, enhance bilateral trade exchanges measures, enhance competitiveness ... Thanks to the efforts and close cooperation between the two parties, over time, cooperation in trade- economic, industry and investment between m w88 and Africa has made quite a positive development. Currently, m w88 has signed a framework agreement on trade – economic cooperation, science and technology with 17 countries in Africa and the Trade Agreement with 15 African countries, including, most agreements have Most-favored nation tariff regulations. This is a basic legal framework for businesses from both countries to promote trade activities. Besides, also founded a number of intergovernmental committees and trade joint committee to promote cooperation with other countries. Total export turnover of m w88 - Africa increased from 372,4 million U.S dollars in 2003 to 2,07 billion U.S dollars in 2009.

Commercial exchanges between the two sides grew by an average rate of 53% in the period 2003 to 2009, higher than the growth of m w88's foreign trade during the same period. The structure of exported products to Africa of m w88 has been more diversified. If as before, the leading export commodities of m w88 to Africa which are rice, garments, shoes, the recent years, m w88 has exported more industrial goods like electrical products - electronics, engineering, plastics, wood products, motor vehicles and parts, chemicals... and at first, this product has won a place on the African market. Regarding imports, the goods which m w88 imported stable from Africa is: Iron and steel, raw cashew nuts, cotton, timber, fertilizers, cigarette raw materials, fuel, chemicals ...