Algeria remains potential market for Vietnamese farm produce
A consultation session on export to the Algerian market will be held on April 19 in Ho Chi Minh City as part of activities in the national programme on trade promotion in 2022, according to Deputy Director of the Trade Promotion Agency of the Ministry of Industry and Trade (MoIT) Le Hoang Tai.
This will be the 7th among 30 consulting sessions on export to foreign markets hosted by the agency in coordination with trade offices of Vietnam abroad with the aim of helping Vietnamese businesses expand export market for their products.
During the event, enterprises will be updated on regulations, standards, import and export conditions of the Algerian market for a number of processed farm produce and foodstuffs, Tai said.
According to Tai, Algeria is one of the leading partners of Vietnam in Africa, and the two counties are striving to expand their relations across fields, including, economic, trade and investment cooperation.
Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan said Algeria is a potential market for Vietnamese goods.
There is large room for Vietnam to increase its export of coffee to Algeria, which at present accounts for 65% of the country's total export value to this African market, he noted.
In addition, the country also has a high demand for other commodities from Vietnam such as rice, pepper and cinnamon, cashew nuts and freshwater aquatic products, which it cannot produce.
Nhuan said Vietnamese exporters should carefully study the market, particularly its policies related to tariffs, labour laws, payment methods, disputes, and debt recovery.
Statistics of the General Department of Vietnam Customs shows that the bilateral trade between Vietnam and Algeria is still modest, with Vietnam’s export turnover to Algeria reached only US$153 million last year and US$30.6 million in the first quarter of 2022.
