Vietnam enhances trade promotion in Algerian locality

On April 2, the Vietnam Trade Office in Algeria coordinated with the Chamber of Commerce and Industry of Algeria's Béjaia province organised a seminar to introduce economic and trade cooperation potential between the two countries.
Vietnam boosts trade promotion in Algerian locality
Participants at the seminar (Source: VNA)

Chairman of the chamber Mamasse Samir said with 100 km of coastline, the locality has huge potential for tourism development.

Enterprises in Béjaia mainly operate in the areas of the food industry, wood and paper, metallurgy, mechanics, electricity, electronics, construction materials, and textiles, he said, adding that several local companies are importing coffee and spices from Vietnam.

He called on Vietnamese businesses to invest in the Algerian locality, and cooperate with local partners based on mutual benefit, affirming that Béjaia always creates favourable conditions for foreign investors with many incentives on taxes and industrial land leasing.

Trade Counselor Hoang Duc Nhuan briefed participants on Vietnam's economic and foreign trade situation and the trade and investment cooperation relationship between the two countries. The two-way trade between Vietnam and Algeria reached an estimated 250 million USD in 2023, up 68% year-on-year.

Trade Counselor Nhuan also provided information to and invited Algerian businesses to attend an exhibition on connecting international supply chains (Vietnam International Sourcing) from June 6-8, 2024 in Ho Chi Minh City.

At the event, the office also displayed catalogs and samples of coffee, pepper, cashew nuts, cinnamon, anise, coconut meat, and plywood of Vietnamese businesses.

Businesses in Béjaia expressed their interest in importing raw coffee, cashew nuts, sugar, soybeans, sunflower seeds, bags, packages, and materials for cork production; sporting products from Vietnam; and seeking partners in the fields of textile production and agricultural processing, refrigeration equipment, logistics, and tourism.

They said they wish to export olive oil, caromic powder, margarine, and sauces to Vietnam.

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(Source: VNA)