Trade cooperation remains incommensurate with potential

On the morning of January 21, 2026, at the headquarters of the Ministry of Industry and Trade, Deputy Minister Truong Thanh Hoai held a working session with Daouda BITIE, Ambassador Extraordinary and Plenipotentiary of Burkina Faso to China, concurrently accredited to Vietnam.

During the meeting, Deputy Minister Truong Thanh Hoai briefed Ambassador Daouda BITIE on the economic development achievements Vietnam recorded in 2025.

The Deputy Minister stated that in 2025, the structure of key sectors shifted positively toward comprehensive and modern development. Notably, trade emerged as a bright spot, reaching a record turnover of USD 930 billion. Regarding international economic integration, Vietnam has signed, implemented, and is negotiating a total of 19 Free Trade Agreements (FTAs), 17 of which have already been signed.

Deputy Minister Truong Thanh Hoai affirmed that Vietnam represents a market with significant potential where Burkina Faso can foster cooperation in trade, industry, and energy. The Deputy Minister also highly appreciated the achievements Burkina Faso has attained under the leadership of Ibrahim Traore.

Regarding trade relations with Burkina Faso, Deputy Minister Truong Thanh Hoai noted that in the 2020 - 2024 period, total bilateral trade turnover averaged nearly USD 95 million annually. However, the turnover remains incommensurate with the inherent potential of the parties. Exports from each country to the other's market currently account for a small proportion, less than 0.05 percent. Industrial cooperation remains limited, requiring continued orientation and support for business connectivity.

To promote trade cooperation between the two countries based on maximizing the potential and strengths of each economy, Deputy Minister Truong Thanh Hoai proposed that both sides coordinate to implement several cooperation contents.

First, the two sides should promote the exchange of delegations at all levels to provide each other with information on their respective markets, mechanisms, and economic and trade policies.

Second, the Deputy Minister suggested organizing trade exchange activities in each other's markets and inviting Burkina Faso organizations and enterprises to attend Vietnam's annual international trade events.

Third, it is necessary to boost trade activities in potential fields where Vietnam possesses advantages, and Burkina Faso has high demand, such as rice, agricultural machinery, electrical equipment, construction materials, household goods, and textiles and garments.

Fourth, the two nations should explore cooperation in the fields of mining, textiles and garments, agro - food processing, chemicals, fertilizers, and food security assurance.

Boosting rice trade cooperation

Appreciating the warm welcome and remarks by Deputy Minister Truong Thanh Hoai, Ambassador Daouda Bitie expressed his honor to be invited to attend the 14th National Congress of the Communist Party of Vietnam and to work with the Ministry of Industry and Trade.

Congratulating Vietnam on the achievements attained in 2025, the Ambassador noted that Burkina Faso has recently undergone a comprehensive revolution and expressed a desire to deepen economic and trade cooperation with Vietnam.

Burkina Faso is currently studying experiences in national construction and development, prioritizing key sectors such as agriculture to ensure food security, basic industrial production, and the attraction of investment and technology transfer. The country currently has a high demand for rice and petroleum imports, as well as the production of motorcycles and spare parts to serve the domestic market.

Acknowledging the proposals of Ambassador Daouda Bitie, and given that Vietnam and Burkina Faso have not yet established diplomatic missions in each other's countries, Deputy Minister Truong Thanh Hoai proposed that both sides designate focal points to ensure effective coordination. The Deputy Minister designated the Department of Overseas Markets as the focal point for the Ministry of Industry and Trade of Vietnam to initially exchange information, serving as a basis to study the promotion of technical and business delegation exchanges.

Regarding rice trade cooperation, the Deputy Minister suggested that the two sides study the possibility of negotiating a Memorandum of Understanding and assigned the Agency of Foreign Trade as the focal point for implementation on behalf of the Ministry of Industry and Trade of Vietnam.

For other commodities, the Deputy Minister invited the Burkina Faso side to organize working delegations to visit Vietnam and facilitate businesses to attend trade fairs and exhibitions, allowing the Ministry of Industry and Trade to support business matching.

Ambassador Daouda Bitie affirmed that he would coordinate closely with the Ministry of Industry and Trade of Vietnam and relevant domestic agencies to promote the resolution of the issues raised by Deputy Minister Truong Thanh Hoai.