SA getting ready for trade with Vietnam
YOUNG South African entrepreneurs can now expect to trade in new international markets thanks to the New Youth Development Agency (NYDA) agreement with youth organisations from Vietnam.
On Monday night the NYDA, led by its president Andile Lungisa and his leadership group, held a meeting with Vo Van Thoung, president of the Ho Chi Minh Communist Youth Union, and 23 entrepreneurs from the Vietnam Youth Federation.
This federation consists of 8000 businesses owned by young people - contributing a quarter of the Vietnam GDP.
The Vietnamese contingent came mainly from media institutions, the communication technologies sector and the food processing industry.
The agreement is expected to open doors for local entrepreneurs to the Vietnam market by fostering direct trade between local youth and their Vietnam counterparts.
Though the agreement could not be put in rands, Deputy Minister of Trade and Industry Thandi Tobias-Pokolo said she would be meeting her Vietnam counterpart to conclude a treaty.
"South Africa shares a common history with Vietnam through struggle . against colonisation, it is therefore good that we are forming such a partnership with the country."
Lungisa said: "The ties will see young entrepreneurs being able to export their goods to Vietnam.
"The products to be exported will have to be uniquely South African. We can't give Vietnamese something they already have," he said.
"I believe that our visit will strengthen the bilateral trade relations between us and South Africa," said Thoung.