Online conference promotes Viet Nam-Algeria trade
Online conference promotes Viet Nam-Algeria trade
The Viet Nam Trade Promotion Agency (Vietrade) held a virtual conference to promote Viet Nam-Algeria trade and business cooperation on Wednesday.
Hoang Minh Chien, deputy head of the agency, said Algeria was one of the potential markets for Vietnamese goods in Africa, especially for coffee, peppercorn, cashew nuts, and freshwater aquatic products, which Algeria has a high demand for but cannot produce.
Notably, coffee, accounting for 65 per cent of Viet Nam's total shipments to Algeria, is predicted to be the top Vietnamese product for export.
Rice also sees good prospects as Algeria imports 100,000 tonnes of rice annually.
Chien said the two countries' trade value remained modest compared to their potential and strength. The figure was US$153 million last year due to the impact of the pandemic.
In the first half of this year, Viet Nam exported $71.16 million worth of goods to Algeria, mostly seafood, coffee, peppercorn, rice, chemical products and metal.
Hoang Duc Nhuan, Trade Counselor of Viet Nam in Algeria, said bilateral cooperation was maintained over the past six decades across sectors and improved with the expanded exchange of delegations.
The two sides have signed many important agreements on bilateral trade, maritime transport, trade promotion, and visa exemptions, among others.
However, economic collaboration remains challenging due to the distance and high transport costs.
Nhuan suggested the two governments complete related legal frameworks, establish the Viet Nam-Algeria business council and enhance the role of their competent agencies.
More forums and conferences to raise public awareness of the trade potential should be organised, while Vietnamese and Algerian firms should join trade fairs to find partners for linkage and investment, he added.
