“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Africa - a potential market for Vietnamese rice

 Vietnam's rice exports to Africa increased sharply in the first half of 2020 and are expected to continue to increase in the second and into 2021, said Hoàng Duc Nhuân, Vietnam's trade advisor in Algeria, responsible for Mali, Niger, Senegal and The Gambia. 

Africa - a potential market for Vietnamese rice

Africa is a market with a high demand for rice, particularly West Africa due to insufficient rice production, natural disasters, poor harvests, political instability or epidemics.
In 2019, Vietnam exported rice to 35 of the 55 African countries valued at nearly US $ 630 million. In particular, exports to Senegal brought 32.6 million USD, in Algeria, 6.3 million USD, in The Gambia, 185,000 USD ...

In the first six months of 2020, Vietnam's rice exports to Senegal reached 41,149 tons worth US $ 14.58 million, an increase in value and volume compared to the same period of last year.

The Vietnam Trade Service in Algeria followed changes in trade policies, studied and updated the import demand for rice from the markets, regulations regarding imports, payment during the pandemic period… and presented them on the official websites of the Ministry of Industry and Trade. He must also present business opportunities, the list of rice importers from Algeria, Senegal ... to Vietnamese companies. 

Present the market potential

This year, the Asia-Africa Market Department of the Ministry of Industry and Trade coordinated with Trade Services in the region to organize webinars to showcase the market potential of Africa and the Middle East.

Besides rice, Vietnam can export to these markets other products such as agricultural and food products (coffee, pepper, cashew nuts, vegetables, confectionery and cereals), aquatic products (pangasius, tuna), industrial products. (clothing, shoes, computers, electronic products and components, plastic products, fertilizers, chemicals), transportation (components, auto parts, motorcycles) and medical supplies. 

Conversely, Vietnam can buy raw materials such as cotton, raw cashews, animal feed ... to serve the manufacturing and processing industries.

From mid-July to early August 2020, Mali, Niger and Senegal reopened their air and land borders after having fully contained the COVID-19 epidemic. These are positive signals to help these countries restore trade and investment exchanges with countries, including Vietnam.