The two sides target bilateral trade of $4–5 billion within the next 2–3 years.

Vietnamese Prime Minister Pham Minh Chinh and South African
President Cyril Ramaphosa agreed to elevate the bilateral ties to a Strategic
Partnership during their meeting in Johannesburg on November 21, within the
framework of the former’s working trip to attend the G20 Summit and bilateral
activities in South Africa, according to a report from the Vietnam News Agency.

The two leaders agreed to instruct relevant agencies to soon
develop an action plan for implementing the newly-established relationship
framework, concretising the content of the Joint Statement on the establishment
of the Strategic Partnership, with the aim of creating breakthroughs and making
Vietnam – South Africa relations a model of cooperation among Global South
countries.

The two sides also reaffirmed their commitments to further strengthen economic,
trade, and investment cooperation, viewing it as a key focus of bilateral
collaboration.

They agreed to promptly negotiate an agreement and establish a
working group to promote market access for each other’s goods and products,
with the goal of raising bilateral trade turnover to $4–5 billion within the
next 2–3 years.

PM Chinh proposed South Africa to soon officially launch
negotiations on a free trade agreement (FTA) with the Southern African Customs
Union (SACU), thereby creating the best possible conditions for businesses of
both countries to expand cooperation and investment, particularly in
infrastructure, the green economy, the digital economy, telecommunications,
manufacturing, agricultural processing, energy, electric vehicle production,
and the Halal industry.

President Ramaphosa affirmed that South Africa always
considers Vietnam a close traditional friend and a key partner in Asia.

VNA- Nguyễn Khánh Chi