Enhancing Economic and Trade Relations between Vietnam and Tunisia
Fired-Up Trade Ties Between Vietnam and Tunisia
The bustling halls of UTICA headquarters recently echoed with business-savvy chatter as sixty representatives from the Vietnamese and Tunisian bureaucracy and enterprises gathered for an online conference to bolster economic and trade cooperation.
Kicking off the April 24 event, Mohammed Koolie, Vice President of UTICA, weighed in on the exciting prospects that lay ahead for the two nations. Emphasizing the event as a goldmine for networking, Mr. Koolie suggested hosting two conferences yearly to keep the communication pipelines open.
Sitting pretty with a population of roughly 12.5 million, Tunisia, positioned strategically near Europe, boasts a bustling, internationally interwoven economy within the Africa-Arab region. Its active involvement in various free trade agreements, like the African Continental Free Trade Area (AfCFTA), earns Tunisia the coveted status of a key gateway for our Vietnamese goods to penetrate the North African and Arab markets.
traded values reached a staggering US$267 million in 2024 — nearly triple the amount recorded in 2023.
The list of Vietnamese goods exported to Tunisia reads like a who’s who of popular exports. These include footwear, coffee beans, spicy peppers, cashew nuts, seafood, and machinery. In contrast, Vietnamese imports from Tunisia comprise seafood, dates, chemicals, and feed material for livestock.
Tunisia’s hunger for imported goods, particularly staples like coffee, rice, and sugar, remains insatiable. Since 2024, Tunisian laws allow private businesses to import these commodities, paving the way for foreign suppliers, including ours, to seize the moment and crack Tunisia’s market.
During the conference, the Vietnamese Trade Office shed light on the Vietnam's economic landscape and laid out its export-import policies. They also showcased upcoming trade events, like the International Sourcing Expo, Food Expo, and Expo 2025, issuing invitations for Tunisian businesses to participate and explore potential collaborations.
The two nations have inked a range of agreement throughout the years, setting a firm legal foundation for trade and investment progress. Key accords include the Trade Agreement (1994), the Agreement on Economic, Cultural, and Scientific-Technical Cooperation (1999), the Framework Agreement on Agricultural Cooperation (2002), and the Agreement on Double Tax Avoidance and Tax Evasion Prevention (2010). These agreements have laid the groundwork for bilateral trade and investment. The two sides have also held three Intergovernmental Committee sessions, with the most recent taking place in Tunisia in 2018.
Mr. Koolie, impressed by Vietnam’s impressive annual trade revenue of US$786.29 billion in 2024, encouraged both nations to capitalize on their individual strengths to form mutually beneficial partnerships. He expressed an open invitation for Vietnamese businesses to invest in and form joint ventures with Tunisian companies in various industries like processing, technology, marine aquaculture, and manufacturing, leveraging Tunisia's strategic location, rich resources, cutting-edge infrastructure, and skilled labor force.
However, the Tunisian side highlighted several hurdles that needed tackling, like climbing costs associated with Vietnamese exports and shipping woes due to regional conflicts, trust issues, and hefty import taxes on specific goods, such as dates. The Tunisian business professionals suggested negotiations to lower tariffs, discussions on a bilateral preferential trade agreement—possibly a Free Trade Agreement (FTA), and the establishment of a Vietnam-Tunisia Business Council to oversee sustainable, practical cooperation.
On the spot, the Vietnamese Trade Office hosted a showcase of Vietnamese products, introducing the vibrant taste of Vietnamese coffee to Tunisian partners. Intrigued Tunisian entrepreneurs sought out potential Vietnamese partners for coffee, rice, powdered milk, mechanical items, and consumer goods imports, all while pursuing export opportunities for dates, olive oil, and seafood to the Vietnamese market.
Both parties expressed their commitment to fortifying their collaboration via trade promotion activities, business delegation swaps, marketing of national strengths and potential, aiding enterprise involvement in international events, and offering consultation and assistance in addressing emerging trade issues.
Participants at Việt Nam-Tunisia Online Business Conference at UTICA headquarters. - Photo moit.gov.vn
After all, as the flames of cooperation blaze between our two nations, one thing is abundantly clear: the path to prosperous trade and dynamic economic growth lies in embracing common goals, understanding differences, and seizing unparalleled opportunities within the vast, interconnected web of these two remarkable countries.
- The diverse range of sectors, such as processing, technology, marine aquaculture, and manufacturing, offer potential for Vietnamese businesses to invest in and form joint ventures with Tunisian companies.
- The AfCFTA involvement of Tunisia positions it as a key gateway for Vietnamese goods to penetrate the North African and Arab markets.
- The weather-resilient agriculture sector of Tunisia provides opportunities for the export of goods like seafood and dates to the Vietnamese market.
- The economic landscape of Tunisia offers a fertile ground for foreign suppliers, including those from Vietnam, to penetrate its market due to its active involvement in various free trade agreements.
- Market conflicts, trust issues, and high import taxes on specific goods, such as dates, pose challenges for the growth of trade between Tunisia and Vietnam.
- The Agreement on Economic, Cultural, and Scientific-Technical Cooperation (1999) is one of the key accords between the two nations that has laid the groundwork for bilateral trade and investment.
- The potential for a bilateral preferential trade agreement, like a Free Trade Agreement (FTA), is being explored to address rising costs and shipping issues associated with Vietnamese exports.
- The Vietnam-Tunisia Business Council, if established, could help oversee sustainable, practical cooperation and tackle emerging trade issues between the two nations.
