VP visits Vietnam with MoUs
On the card: 2011 Defense cooperation MoU 2001 Trade Agreement 2005 Economic, Trade, Cultural, Scientific, Technological cooperation MoU 2009 Agricultural cooperation MoU Trade fair/exhibition, investors summit, business session to feature
NIGERIA WILL BE PUSHING to bring back on the table a number of pending memoranda of agreements (MoU) it entered into with the Socialist Republic of Vietnam, the...
NIGERIA WILL BE PUSHING to bring back on the table a number of pending memoranda of agreements (MoU) it entered into with the Socialist Republic of Vietnam, the South-East Asian economic giant, during the pending August 2021 visit of Vice President Yemi Osinbajo, Business A.M. can now confirm.
Business A.M. had reported exclusively on June 14, 2021, that plans were already being finalised for a potential visit by Osinbajo in August, during which opportunities would be taken to drive an economic agenda in terms of cooperation between Nigeria and Vietnam. That visit is now to take place from August 10 to 13, 2021.
Sources at both the Presidency and the Ministry of Foriegn Affairs have disclosed that an effective programme has been drawn, but that topping the agenda would be the need to revive the MoUs which are directly in the operative schedules of certain ministries and departments with a view to leveraging the opportunities they offer, especially given the place Vietnam occupies in agriculture, technology and manufacturing.
One source told Business A.M. that a number of the MoUs had lapsed and that the Vietnam authorities, during the visit in 2019 of the deputy prime minister of Vietnam, Young Dinh Hue, to the vice president, presidented some of them for renewal and now Osinbajo will use this visit to advance discussions on them, and where possible close off on them.
Details of the programme of visit shows that the vice president will attend the opening ceremony of a trade fair in Hanoi, Vietnam, where he would view the “products of Nigeria exhibition” (PONEx 2021) stand.
But at least four pending memorandum of understandings (MoUs) it signed with Vietnam between 2001 and 2011 will be tabled for discussion during the visit.
The MoUs include one on Defence Cooperation that was submitted to the Nigerian ministry of defence in 2011; a bilateral trade agreement between the two countries signed on 21 June 2001.
Other MoUs are an economic, trade, cultural, scientific and technological cooperation signed on 24 November 2005; and an agricultural cooperation agreement signed on 25 September 2009, in view of Vietnam’s status as one of the top rice producing countries in the world, but it is an agreement that has since elapsed.
The ministries, departments and agencies (MDA) related with the visit are those of justice; industry, trade and investment (FMITI); foreign affairs (FMFA); Nigerian export promotion council (NEPC); and Nigerian investment promotion council (NIPC). Others are SMEDAN, NVCCI, private sector investors, and the National Assembly.
Osinbajo would deliver a keynote address at a Nigeria–Vietnam summit at Hanoi Sheraton, with the theme: “Nigeria–Vietnam Partnering for Substanaible Mutual Benefit.” The Vietnam deputy prime minister would give a response to the Nigerian vice president’s address. Other speeches include: president of Vietnam Chamber of Commerce and Industry (VCCI), with a response by president of Nigeria–Vietnam Chamber of Commerce and Industry (NVCCI). Others to speak at the summit include:
Nigerian ambassador to Vietnam, with responses by the Vietnam deputy foreign minister and his Nigerian counterpart.
A representative of the Nigerian National Assembly would address the Vietnam parliament and legislative colleagues on: “Future of Nigeria–Vietnam Bilateral Legislative and Democratic Relations”. The head of the Vietnam parliament would make a response.
Additionally, during a business session, the head of Nigerian Investment Promotion (NIPC) would speak on: “Nigeria Investment Climate and Business Opportunities,” with a response by the directorgeneral of Vietnam Investment Promotion Council (VIPC).
The second presentation would dwell on: “Nigeria–Vietnam Export Trade Collaboration in Agriculture and Solid Minerals; Problems and Prospect,” taken by the head of Nigeria Export Promotion Council (NEPC). The director-general of Vietnam Export Promotion Council (VEPC) will respond.
An investors summit would hold on day three of Osinbajo’s Vietnam visit with state government presentations drawn from the six geopolitical zones present, network and mini products of Nigeria exhibition (PONEx). There would be visits to establishments, plants, installations, organisations, offices, farm settlements, industrial parks and clusters.
This will be followed by a private sector commerce and investors summit (CIS) which would be at the Vietnam Chamber of Commerce and Industry (VCCI). The head of Vietnam micro, small and medium-scale enterprises (MSME) association and the Nigerian version, SMEDAN would address the private sector audience. This would be topped with a talk on: “Doing Business in Vietnam: Agribusiness, Mining Business Sectors”.
The Nigerian delegation would visit Vietnam’s rice processing mills before departure back to Nigeria.