Business
Osinbajo will visit the President of Vietnam and others for dialogue
Prof. Yemi Osinbajo, the vice president, is expected to leave Abuja on Saturday for the Socialist Republic of Vietnam to take part in high-level bilateral negotiations.
Meetings with President Nguyn Xuân Phc of Vietnam, Vice President Vo Thi Aah Xuan, Prime Minister Pham Minh Chinh, senior government leaders, and members of the business community are among the engagements.
Laolu Akande, the Senior Special Assistant to the Vice President on Media and Publicity, said this in a statement.
The statement claims that the Vice President’s five-day trip comes after former Vietnamese Deputy Prime Minister Vuong Hue visited Nigeria in October 2019 in light of the bilateral ties and commerce between the two nations.
Hue met with Osinbajo and other top Nigerian government officials during the visit, as well as the Nigerian-Vietnam Business Association.
The statement said, “The Vice President’s reciprocal trip to Vietnam will further deepen bilateral ties and commerce between the two nations.”
“Even though Nigeria and Vietnam have had diplomatic ties since 1976, Vice President Osinbajo will be the second high-ranking representative of the Nigerian government to visit Vietnam following President Olusegun Obasanjo in 2005.
The Vice President “is anticipated to witness the signing of Memorandum of Understanding (MoU) and Agreements on Investment between Nigeria and Vietnam while in the Socialist Republic of Vietnam.”
Along with his Vietnamese counterpart, Vice President Vo Thi Aah Xuan, and the Prime Minister, Osinbajo is anticipated to undertake high-level diplomatic talks on a variety of topics, including trade, business, agriculture, technology, and innovation.
Later, he’ll take part in a business roundtable hosted by the Vietnamese Chamber of Commerce with participants from both nations.
The Vice President “is anticipated to witness the signing of Memorandum of Understanding (MoU) and Agreements on Investment between Nigeria and Vietnam while in the Socialist Republic of Vietnam.”
Along with his Vietnamese counterpart, Vice President Vo Thi Aah Xuan, and the Prime Minister, Osinbajo is anticipated to undertake high-level diplomatic talks on a variety of topics, including trade, business, agriculture, technology, and innovation.
Later, he’ll take part in a business roundtable hosted by the Vietnamese Chamber of Commerce with participants from both nations.
Read the full statement below:
IN HIGH LEVEL VISIT TO VIETNAM, OSINBAJO TO MEET PRESIDENT, VP, PRIME MINISTER, OTHERS
*Leaves Abuja today
Vice President Yemi Osinbajo, SAN, departs Abuja today for the Socialist Republic of Vietnam for high-level bilateral engagements in the Southeast nation including meetings 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.
The VP’s reciprocal visit to Vietnam will further strengthen trade and bilateral relations between both countries.
Recall that in view of the trade and bilateral relations between both countries, then Deputy Prime Minister of Vietnam, Vuong Hue, had 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 VP will conclude the visit to Vietnam on Wednesday.
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
3rd December, 2022