Nigeria and Vietnam have signed a landmark partnership agreement to strengthen cooperation in cashew production, processing, and trade. a move expected to boost Nigeria’s non-oil export drive and deepen South-South economic collaboration.
The agreement was formalised through a Memorandum of Understanding (MoU) between the National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS) during the 14th VINACAS Golden Cashew Rendezvous 2025, held in Hanoi from October 26 to 28.
The partnership seeks to enhance technology transfer, improve value-addition through local processing in Nigeria, diversify cashew-based products such as juice and snacks, and expand market access for both countries.
Speaking at the signing ceremony, leaders of both associations expressed optimism that the collaboration would transform the cashew value chain in Africa and Asia. They noted that the agreement aligns with efforts to promote sustainable agriculture and strengthen bilateral trade relations between the two nations.
“This partnership marks a new era for Nigeria’s cashew industry,” an NCAN representative said. “By working with Vietnam, one of the world’s leading cashew processors, we can significantly increase our processing capacity and export earnings.”
Vietnam, a global leader in cashew processing and exports, imports a large share of raw cashew nuts from Africa, particularly Nigeria, which produces over 500,000 metric tonnes annually. In 2025 alone, Nigeria’s cashew exports to Vietnam were valued at approximately $420 million, underscoring the strategic importance of the sector.
Analysts believe the new MoU could enable Nigeria to retain more value within its borders by developing domestic processing facilities, creating jobs, and reducing reliance on raw commodity exports.
However, experts caution that infrastructure challenges, market development, and access to processing technology will be critical to the success of the agreement.
The partnership comes as both nations explore ways to strengthen agricultural trade, promote investment, and share technical expertise in food processing and agribusiness.
