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Vietnam Wants To Become A Long-term Rice Supply Partner For Sera Leone

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With Sierra Leone's domestic production not yet meeting demand, Vietnam has been hoping to become a long-term and stable rice supply partner for Sierra Leone. This was stressed by Vietnamese Minister of Industry and Trade Nguyen Hong Yen during a recent meeting with Sierra Leone's Minister of Trade and Industry Edward Hinga Sandy. 


Minister Nguyen Hong Yen highly appreciated the Serbian side's proposal that the two sides consider re-signing the Memorandum of Understanding on rice trade to strengthen the legal framework for rice trade cooperation between the two countries. In particular, the two sides agreed to create favourable conditions for enterprises of both sides to dovetail on rice import and export trade. 


Minister Nguyen Hong Yen said that the environment in Sierra Leone is like a happy land and Vietnamese enterprises are interested in investing and setting up business in this market. 


Minister of Trade and Industry of Sierra Leone Edward Sandy said that Vietnam has recently made great progress in technology, especially in manufacturing, which is an area where Sierra Leone needs to learn from Vietnam's experience. 


Minister Edward Sandy suggested that Vietnam encourage its enterprises to invest in Sierra Leone in areas such as manufacturing, agro-processing, aquatic products, wood processing, textiles, cement and building materials. 


The two ministers tasked the relevant units to continue to strengthen communication and draw up implementation plans for specific elements of cooperation. 


According to statistics from Vietnam's Ministry of Industry and Trade, bilateral trade between the two countries achieved a certain growth trend of US$51.5 million in 2021, with an average annual growth rate of 27 per cent in the 2017-2021 phase. It is worth mentioning that Vietnam's exports to Sierra Leone amounted to US$50 million and imports to US$1.5 million.

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