HCMC – Vietnam and South Africa have agreed to elevate their bilateral relationship to a strategic partnership to deepen cooperation in trade, investment, and other key sectors.
The announcement was made during a meeting between PM Pham Minh Chinh and South African President Cyril Ramaphosa on November 21 in Johannesburg, where the PM is attending the G20 Summit and having bilateral engagements, according to the Vietnam News Agency.
The two leaders said the upgraded partnership would help make bilateral cooperation more substantive and effective. They also agreed to boost economic, trade, and investment collaboration, and to immediately establish a working group to expand market access for each other’s goods. Both sides aim to raise two-way trade to US$4–5 billion within the next two to three years.
PM Chinh called on South Africa to create favorable conditions for businesses from both countries to expand cooperation, particularly in infrastructure, green and digital economies, telecommunications, manufacturing, agricultural processing, energy, electric vehicle production, and the Halal industry.
The two countries will also accelerate negotiations to finalize key agreements, including treaties on double taxation avoidance, visa exemptions for ordinary passport holders, and cooperation on crime prevention.
