Vice President Yemi Osinbajo will depart Abuja on Saturday to the Socialist Republic of Vietnam for high-level bilateral engagements in the Southeast nation.
The Osinbajo will meet with the President of Vietnam, President Nguyễn Xuân Phúc; Vice President Vo Thi Aah Xuan, Prime Minister Pham Minh Chinh, other government officials and the business community.
According to a statement by Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Mr Laolu Akande, the Vice President’s reciprocal visit to Vietnam will further strengthen trade and bilateral relations between both countries.
In view of the trade and bilateral relations between both countries, then Deputy Prime Minister of Vietnam, Vuong Hue, visited Nigeria in October 2019 and met with Prof. Osinbajo, other senior Nigerian government officials and also interacted with the Nigerian-Vietnam Business Association.
“As the then Deputy Prime Minister, who was accompanied to Nigeria by senior Vietnamese Government officials and businessmen, noted Nigeria is Vietnam’s largest trading partner in Africa. Indeed trade between both countries stood at US$280 million in 2014 and increased to over US$500 million in 2019.
“Although Nigeria and Vietnam have maintained long-standing diplomatic relations since 1976, Vice President Osinbajo will be the second Nigerian high ranking incumbent government official to visit the Southeast Asian country after President Olusegun Obasanjo who visited in 2005.
“While in the Socialist Republic of Vietnam, the Vice President is expected to witness the signing of Memorandum of Understanding (MoU) and Agreements on investment between Nigeria and Vietnam. He will also hold high level diplomatic discussions with his Vietnamese counterpart, Vice President Vo Thi Aah Xuan and the Prime Minister on issues of trade, commerce, agriculture, technology and innovation among others.
“Prof. Osinbajo will later participate in a Business Forum with the Vietnamese Chamber of Commerce with representatives from both countries.
“With the opportunities existing in agriculture & technology in Nigeria and Vietnam, discussions would focus on mutual benefits from effective collaboration in particular economic sectors so as to deepen the friendly and trade relations of both countries,” the statement reads.
The Vice President will conclude the visit to Vietnam on Wednesday.