Vietnam and Algeria Plan to Broaden Trade Collaboration

On June 18, representatives from various businesses gathered at the Vietnam Trade Office in Algeria in order to establish stronger ties by engaging in more direct transactions, discussing secure payment methods for trading between the two countries, addressing mutual reliability and trust issues, and making improvements to existing logistics in trading activities between Vietnam and Algeria.

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There were 13 Vietnamese enterprises and 25 Algerian enterprises participating in this event. While they are from different business sectors such as agriculture, industrial goods, and cosmetics, all are interested in international trade activities.

According to data from Vietnam Customs, trade between the two countries reached about US $116 million in the first 5 months of 2023, an increase of more than 80% compared to the same period last year.

Speaking at the conference, Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan introduced the situation of trade and investment cooperation between Vietnam and the promising business opportunities for Algerian businesses. According to Nhuan, the guests viewed catalogs and samples of Vietnamese companies on display at the Vietnam Trade Office and highly appreciated the quality of Vietnamese products compared to those of some countries in Asia. Some of the most popular Vietnamese products imported to Algeria are solar batteries, fabric, footwear, and milk powder.

He also added that Algerian businesses want to export items such as dried dates and olive oils to Vietnam. In addition, Algerian businesses also called for Vietnamese businesses to cooperate and invest in their countries, especially in areas such as poultry farming, aquaculture, and construction.

Vietnam, Algeria to Expand Scope of Trade
Representatives of Algerian companies at the event (Photo: Trung Khanh).

Delegates from both sides also expressed their desire to increase face-to-face transactions, discuss safe import-export payment measures, trust issues, and logistics in international trade activities.

On this occasion, the Vietnam Trade Office in Algeria also invited interested foreign businesses to visit the booth introducing Vietnamese goods at the 54th Algiers International Fair (FIA 54) taking place at Algiers (Algeria’s capital).

Vietnam, Algeria to Expand Scope of Trade
Some of the most popular Vietnamese products imported to Algeria are solar batteries, fabric, footwear, and milk powder (Photo: Trung Khanh).

Algerian businesses and investors are also welcome to participate in the “Connecting International Commodity Supply Chain” series of events (Vietnam International Sourcing 2023) organized by the Ministry of Industry and Trade, expected to take place from September 13-15 in Ho Chi Minh City.

Fanasy Nguyen Le