Vietnam, Algeria promote trade, investment at SIPA 2019

Trade Counsellor in Algeria Hoang Duc Nhuan Vice (left) and President of the Oran Chamber of Commerce and Industry Kehal Nacer.

The SIPA 2019 was launched on November 6 in the presence of Algerian Minister of Agriculture, Rural Development and Fishing Cherif Omari and will run through November 9.

The biennial event, held since 2013, provides a platform for Algerian and foreign businesses to meet and explore opportunities for trade and investment in fisheries and aquaculture.

This year’s event, themed “Fisheries and Aquaculture, driving forces towards sustainable economic development in Algeria,” features about 100 booths run by domestic and international exhibitors in fishing, aquaculture, processing, packaging, fish feed, shipbuilding and more.

Later the same day, Nhuan met with Vice President of the Oran Chamber of Commerce and Industry (CCI Oran) Kehal Nacer and representatives of some member businesses. Both sides introduced to each other their potential and advantages and showed their interest in further beefing up the bilateral trade and investment.

Nhuan invited companies in Oran and Algeria in general to upcoming international expos in Vietnam, such as Vietnam Expo and Vietnam Food Expo.

He asked the Oran side to support Vietnam in seeking local partners and also said that there is a Vietnamese firm who wants to build a coffee processing plant in Algeria.

Nacer welcomed his guest’s invitation and proposal, and agreed to meet with the Vietnam Chamber of Commerce and Trade (VCCI) to cooperate in business matching.

According to Trade Counsellor Hoang Duc Nhuan, Vietnam and Algeria signed a Memorandum of Understanding in fisheries and aquaculture in 2010. Seafood remains in Vietnam’s Top 5 export items to Algeria. Vietnam annually exports to Algeria 9 million – 10 million USD worth of seafood, mostly frozen pangasius, basa, tuna and shrimp.

Data from the General Department of Vietnam Customs showed that Vietnam’s export to Algeria totalled 135 million USD in the first three quarters of this year with the main items including coffee, metal products, mobile phones, seafood, pepper, rice, clothing and footwear.