Workshop seeks to promote Vietnam – Algeria trade
VOV.VN - The Vietnamese Trade Office in Algeria organized a workshop with representatives of several trade promotion organizations and businesses of Algeria on January 15 to review economic - trade cooperation between the two countries in 2024 and discuss measures to strengthen bilateral cooperation in 2025 and beyond.
The workshop was attended by representatives from the Algerian Investment Promotion Agency (ONDE), the Arab-African Center for Investment and Development (CAAID), the Algerian Forum for Import, Export, International Trade and Investment (AFIETI), and 15 businesses engaged in agriculture, food, forestry products, and industrial goods for export.
At the event, Trade Counselor Hoang Duc Nhuan introduced Vietnam’s economic-trade achievements in 2024 and updated participants on bilateral cooperation. He cited statistics from the General Department of Vietnam Customs, saying two-way trade turnover between the two countries last year was estimated at US$220 million.
The joint venture between Vietnam Oil and Gas Exploration and Production Corporation (PVEP), Thailand’s PTT Exploration and Production Public Company Limited (PTTEP), and Algeria’s largest oil and gas company Sonatrach has operated efficiently at the Bir Seba oil field in Ouargla province since August 2015, yielding a production capacity of 16,000 -18,000 barrels per day.
Nhuan invited Algerian businesses to participate in several upcoming trade events in Vietnam in 2025, including Buon Ma Thuot Festival in March, Vietnam Expo in April & December, Vietnam International Sourcing Expo in September, and Vietnam Food Expo in November.
Sharing their views, Algerian businesses showed their interest in importing coffee, cashew nuts, almonds, and wooden products from Vietnam.
An AFIETI representative announced that Algeria would send a delegation to participate in the Vietnam International Trade Fair (Vietnam Expo) in Hanoi in April.
He expressed several Algerian businesses’ desire to enter into partnerships with Vietnamese businesses to manufacture footwear, textiles, pharmaceuticals, and chemicals, for local consumption and export to other African countries under the African Continental Free Trade Agreement (AfCFTA).
Mahdi Aimane, head of International Relations at ONDE, suggested establishing an online platform to connect businesses from both sides.
Algerian businesses also talked challenges concerning payment methods, rising prices of agricultural products, and Algeria’s import restrictions aimed at boosting domestic investment and production.
The Vietnamese Councilor suggested that the two sides complete legal frameworks and cooperation mechanisms; enhancing exchange delegations and participation in international trade fairs and exhibitions; promote market information exchange and business connectivity; and increase coordination to address problems that may arise.
