Hanoi (VNA) – An international conference was held on October 27 to discuss the actual situation of Vietnamese and Moroccan financialand banking business activities in Africa as well as solutions to promote the two countries’ cooperation in the field.
Spotlighting the experience and role of the Moroccan bankingsystem in supporting payments with African countries, the event wasco-organised by the Vietnam Academy of Social Sciences (VASS)’s Institute ofAfrican and Middle East Studies, the Moroccan Embassy in Vietnam, and the Vietnam- Africa Economic Cooperation Alliance.
In his opening speech, Le Phuoc Minh, head of the institute,said implementing the Government's project on developing relations with African- Middle Eastern countries in the 2016-2025 period, Vietnam has strengthened cooperation with African countries, including Morocco, andrecorded positive progress.
Trade turnover between Vietnam and African markets increasedfrom 2.5 billion USD in 2010 to 6.25 billion USD in 2020 and 7 billion USD in2021, despite impacts from the COVID-19 pandemic.
However, their collaboration is yet to be on par withpotential, particularly in trade, investment, and agriculture, with financialand banking barriers listed among causes. Vietnamese enterprises face difficulties and risks in the payment stagewhen trading and doing business with their African partners.
Participatingmanagers, bankers, researchers, and businessmen exchanged information and experience on international payment activities of Moroccan andVietnamese banks in Africa.
They also soughtways to limit risks in the payment process and remove finance and banking bottlenecks./.
Spotlighting the experience and role of the Moroccan bankingsystem in supporting payments with African countries, the event wasco-organised by the Vietnam Academy of Social Sciences (VASS)’s Institute ofAfrican and Middle East Studies, the Moroccan Embassy in Vietnam, and the Vietnam- Africa Economic Cooperation Alliance.
In his opening speech, Le Phuoc Minh, head of the institute,said implementing the Government's project on developing relations with African- Middle Eastern countries in the 2016-2025 period, Vietnam has strengthened cooperation with African countries, including Morocco, andrecorded positive progress.
Trade turnover between Vietnam and African markets increasedfrom 2.5 billion USD in 2010 to 6.25 billion USD in 2020 and 7 billion USD in2021, despite impacts from the COVID-19 pandemic.
However, their collaboration is yet to be on par withpotential, particularly in trade, investment, and agriculture, with financialand banking barriers listed among causes. Vietnamese enterprises face difficulties and risks in the payment stagewhen trading and doing business with their African partners.
Participatingmanagers, bankers, researchers, and businessmen exchanged information and experience on international payment activities of Moroccan andVietnamese banks in Africa.
They also soughtways to limit risks in the payment process and remove finance and banking bottlenecks./.
VNA
