Vietnam, Algeria to promote stronger economic bonds: Trade Office
WVR/VNA - On January 15, the Vietnam Trade Office in Algeria held a meeting with representatives from several Algerian trade promotion organisations and businesses to look back on bilateral trade and chart a course for future collaborations.
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The event brought together representatives from the National Economic Development Organisation of Algeria (ONDE), the Arab-African Centre for Investment and Development (CAAID), the Algerian Forum for Import, Export, International Trade and Investment (AFIETI), along with 15 firms specialising in trade, export-import of agricultural and food products, forestry and industrial goods.
Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan highlighted the current state of bilateral trade, citing statistics from the General Department of Vietnam Customs as saying that two-way trade was estimated at 220 million USD last year.
He spotlighted the Bir Seba oil field as a symbol of successful teamwork, a joint venture involving Vietnam's PetroVietnam, Thailand's PTTEP, and Algeria's Sonatrach that work hand in hand to pump out 16,000-18,000 barrels of oil daily since August 2015.
Nhuan extended invitations to Algerian agencies and companies to attend several international trade events in Vietnam this year, including the Buon Me Thuot Coffee Festival in March, the Vietnam Expo in April and December, the Vietnam International Sourcing Expo 2025 in September, and the Vietnam Food Expo in November.
Algerian firms showed a strong interest in importing Vietnamese raw coffee, cashews, almonds, timber and wooden products, while expressing a desire to export Algerian olive oil and chicken feet to Vietnam.
Nabil from the AFIETI announced that Algeria would send a delegation to the Vietnam Expo in Hanoi in April 2025.
Algerian companies are on the hunt for Vietnamese partners to produce footwear, textiles, pharmaceuticals, and chemicals, aiming not just for local markets but the expansive African Continental Free Trade Area (AFCFTA), he said.
Mahdi Aimane, responsible for international relations at the ONDE, suggested creating an electronic platform, envisioning a digital highway connecting businesses from both nations.
Nhuan stressed the importance of continuous engagement, from facilitating delegations, attending international fairs and exhibitions, to market information sharing, business matchmaking, partner verification, and settling any disputes that may arise during cooperation.
The meeting concluded on a warm note with Algerian delegates enjoying a taste of Vietnamese coffee and exploring an exhibition room at the Vietnam Trade Office.
(Source: WVR/VNA)
