Algeria - Vietnam's important trade and investment partner in North Africa

Photo caption — Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan. Photo: VNA

Regarding trade cooperation, Mr. Hoang Duc Nhuan - Vietnam Trade Counselor in Algeria - said that the two countries signed a bilateral trade agreement, the last time in 1994. If from 1960 to 2000, the trade turnover between the two countries was modest, with very few exchanged items and mainly carried out within the framework of Vietnam's debt repayment, then since 2001, the two-way trade value has grown significantly with the participation of many private enterprises. The main Vietnamese exports to Algeria are coffee, cashew nuts, pepper, seafood, chemicals, footwear, textiles, iron and steel, etc., while Algerian exports to Vietnam include computers, electronic products and components, carob powder, chicken feet, animal feed, etc. Algeria is looking for customers to import other agricultural products such as dates and olive oil.

Recently, many direct and online seminars connecting businesses of the two countries have been organized. Agencies and businesses of the two countries are increasingly interested in each other's markets, regularly attending major international fairs and exhibitions such as Vietnam Expo, Vietnam Food Expo, Foire Internationale d'Alger...

In addition to trade, the two countries have also expanded cooperation to the field of investment in oil and gas exploration and exploitation in Algeria. The tripartite joint venture between the PetroVietnam Exploration and Production Corporation (PVEP), a member of the Vietnam National Energy Industry Group ( PETROVIETNAM ), the Algerian National Oil and Gas Company (Sonatrach) and the Thai Petroleum Exploration and Production Company (PTTEP) was established in 2009, operating at the Bir Seba field in the Hassi Messaoud area of Ouargla province, more than 600 km south of the capital Algiers. The company is currently in the process of phase 1 exploitation. Since receiving the first oil flow in August 2015 until the end of 2024, the company's total production output has reached nearly 57 million barrels. In the first months of this year, actual output reached about 17,500 - 18,000 barrels/day. The company is considered a bright spot in bilateral cooperation between Vietnam and Algeria.

Besides oil and gas, the Algerian Government is calling on Vietnamese enterprises to invest in potential fields such as agriculture , agricultural processing, seafood farming, textiles, tourism, logistics, mineral exploitation, pharmaceutical production, functional foods, construction and human resource supply.

With their strategic geographical locations, Vietnam and Algeria are expected to play the role of regional gateways for each country's goods to penetrate deeper into each other's markets as well as into neighboring countries in Africa and Asia. Algeria is located in North Africa and is the largest country in Africa (2,381,741 km²), the 10th largest in the world, with a population of about 47 million people. The country's gross domestic product (GDP) is estimated at over 260 billion USD, the 4th largest in Africa, and GDP per capita is estimated at about 5,532 USD this year. In the economic structure, agriculture accounts for 14.7%; industry 42.3%; services 43%. According to a report by the World Bank (WB), Algeria's GDP growth will reach 3.8% in 2025.

In terms of foreign trade, in 2024, Algeria's export turnover will reach 49.35 billion USD and import turnover will reach about 46.05 billion USD, with a surplus of 3.3 billion USD. Algeria's economy is mainly based on the oil and gas industry (accounting for nearly 30% of GDP, more than 30% of tax revenue and about 90% of export turnover). In the world market, Algeria is an important producer and exporter of natural gas (ranked 5th in output, 2nd in export) and oil (13th in output, 9th in export). Algeria is currently actively promoting a policy of diversifying the economy and reducing dependence on oil.

Source: https://baotintuc.vn/thoi-su/algeria-doi-tac-thuong-mai-dau-tu-quan-trong-cua-viet-nam-tai-bac-phi-20251112173640012.htm