HO CHI MINH City, Nov 26 (Bernama) -- Africa is a potential market for Vietnam's rice as it is the second biggest rice importer representing 16 percent of Vietnam's export volume in 2007, the Vietnam Chamber of Commerce and Industry (VCCI)'s Deputy Chairman Doan Duy Khuong said.
Vietnam News Agency (VNA) reported Wednesday that Doan said this at a meeting between three Mekong rice exporters - Vietnam, Laos and Cambodia - and 14 African countries.

The meeting is being co-held by the VCCI, the International Organisation of Francophone (OIF) and the International Trade Centre (ITC) in Ho Chi Minh City on Nov 25-27. It is part of a programme on trade promotion of member countries of the Economic and Monetary Community of Central Africa (CEMAC) and West Africa Economic and Monetary Union (UEMOA) with three Mekong Francophone countries.

According to Deputy Minister of Industry and Trade Le Duong Quang, Vietnam's rice output in 2008 is estimated at 38.6 million tonnes, 2.6 million tonnes higher than 2007.

Vietnam has by Nov 18 exported over 4 million tonnes of rice out of 5.1-5.3 million tonnes planned for 2008. Of the total, over 1 million tonnes of rice have been shipped to Africa , representing 25.6 percent of the country's total exported volume.

In 2007, Vietnam fetched US$51 million from exporting rice to UEMOA member countries and US$121 million in the first nine months of 2008, while it earned US$26 million and US$30 million in these two reviewed time, respectively, from exporting rice to CEMAC countries.

General Secretary of the Vietnam Food Association Huynh Minh Hue said the rice trade between Vietnam and countries in Central and Western Africa still faces difficulties as it is conducted through international merchants, affecting the interests of both producers, consumers and businesses.

Tharcisee Urayeneza, official from the OIF, agreed that the trade relations between the two sides have been established but should be boosted to match with the potentials. He suggested that the two sides intensify activities of trade promotion, information exchange, negotiations for direct contracts to have rational and competitive prices, benefiting both the sellers and the buyers.

Participants at the meeting heard reports on the rice supply capacity of three Mekong countries of Vietnam, Laos and Cambodia, and the rice demands of eight UEMOA countries and six CEMAC countries, as well as their strategies to boost rice trading.

They agreed upon measures to increase visits by high-level and business delegations, coordination between relevant ministries, agencies, and trade associations, as well as exchange of information related to trade and investment policies and promotion programmes.

They also suggested that the related governments sign cooperation agreements to create favourable legal environment for businesses.

-- BERNAMA