Vietnam-Algeria economic cooperation has no limits or obstacles

Prime Minister Pham Minh Chinh and Algerian Prime Minister Sifi Ghrieb witnessed businesses of the two countries exchanging cooperation agreements at the Vietnam-Algeria Economic Forum. (Photo: NHAT BAC/VGP)

The forum was co-chaired by the Vietnamese Ministry of Finance and the Algerian Ministry of Foreign Affairs; co-organized by the Vietnamese Embassy in Algeria, the Algerian Investment Promotion Agency, and the Algerian Chamber of Commerce and Industry. The forum was attended by about 350 delegates, including representatives of government agencies and businesses of the two countries.

At the Forum, Mr. Kamel Rezig, Minister of Trade and Export Promotion of Algeria, assessed that in the spirit of aiming for an effective and sustainable partnership, the Forum showed the attention of Vietnamese leaders and reflected the determination of both countries in building bilateral relations.

According to him, this relationship is not only based on the historical memory dimension, but especially must cooperate in economic development within the framework of the newly established Strategic Partnership on the basis of mutual respect and shared vision; especially cooperation in the field of investment and building supply chains, in which Vietnam and Algeria both have a worthy position.

Prime Minister Pham Minh Chinh and Algerian Prime Minister Sifi Ghrieb attended and spoke at the Vietnam-Algeria Economic Forum. (Photo: NHAT BAC/VGP)

The Minister said that trade relations between the two countries have grown rapidly in recent times, demonstrating the depth of bilateral relations, but there is still a lot of room. Vietnam is one of the rising Asian tigers, an export powerhouse, while Algeria is also an emerging power. Previously, Algeria's economy depended heavily on oil, mainly exporting raw materials, but now it has focused on exporting agricultural and processed products.

Affirming that Vietnamese and Algerian businesses have many opportunities, the Minister said that this is the time for the two countries to take advantage of opportunities from the needs of both sides, on the basis of a very good and trustworthy political relationship.

Specifically, he proposed to carry out joint cooperation projects in the spirit of "win-win", including the plan to build Vietnamese factories in Algeria so that Vietnam can export to other markets. Along with that, the two sides should create favorable conditions and accompany businesses to do business; especially, it is necessary to establish long-term cooperation mechanisms to further strengthen the economic partnership, such as the possibility of establishing a Vietnam-Algeria business cooperation council.

He assessed that, located in a position connecting Asia, Africa and Europe, Algeria can become a center, a gateway for Vietnam to export goods to these regions, on the basis of the strategic partnership between the two countries.

Algerian Prime Minister Sifi Ghrieb assessed that Vietnam has made great strides in economic development in recent times, and that both countries are in the process of economic transformation and enhancing their integration capabilities. The organization of the forum is an action to concretize the political determination of the two countries' senior leaders, thereby creating new vitality, new opportunities, and expanding the space for economic cooperation between the two countries.

Algerian Prime Minister Sifi Ghrieb speaks at the Vietnam-Algeria Economic Forum. (Photo: Nhat Bac/VGP)

The Algerian Prime Minister hopes that businesses of the two countries will strengthen connections, promote trade exchanges, and cooperate in technology, agriculture, digital transformation, energy, oil and gas, pharmaceuticals, tourism, etc.

Reiterating the view that Algeria has a strategic position, being a gateway to the Middle East, Africa, and Europe, the Prime Minister said that Algeria is a friendly country to Vietnam and Vietnam should take this opportunity. He called on Algerian investors to negotiate with Vietnamese enterprises to find specific cooperation opportunities so that Algeria can export more of its strong products to the Vietnamese market and vice versa.

Speaking at the forum, Prime Minister Pham Minh Chinh assessed that this Forum was historic as it received the attention of General Secretary To Lam and Algerian President Abdelmadjid Tebboune; was attended by two Prime Ministers; took place right after the two countries established a strategic partnership; was attended by a large number of business representatives from both countries; and mentioned the possibility of economic cooperation in all fields.

The Prime Minister said: The President and Prime Minister of Algeria both affirmed to the Prime Minister that economic cooperation between the two countries is limitless and unobstructed in all fields and all sectors.

Prime Minister Pham Minh Chinh speaks at the Vietnam-Algeria Economic Forum. (Photo: NHAT BAC/VGP)

Regarding the relationship between the two countries, the Prime Minister emphasized that in the past, the two countries were united, united, helped each other, were friends, partners, and brothers in the resistance war against colonialism, regained independence and freedom, "so in the present and in the future, there is no reason why we should not be united, united, and help each other in the spirit of brotherhood to develop a rich, civilized, powerful, prosperous country and for the people of the two countries to be happy and prosperous. The past was glorious, the present is very strong and the future is even more ambitious.

Expressing his sincere thanks to the businesses that participated in the Forum and contributed to the bilateral relationship, especially economic cooperation in the new period, the Prime Minister believes that the goal of building a "new Algeria" will have important contributions from Vietnam and Vietnamese businesses.

Taking the time to share with delegates about the fundamental factors, strategic orientations, achievements in the past time and the goals, tasks and key solutions for the coming time of Vietnam, the Prime Minister hopes that Algerian businesses will feel secure in investing in Vietnam with an increasingly favorable investment and business environment.

At the same time, the Prime Minister earnestly called on Vietnamese enterprises to increase investment in Algeria, more strongly and decisively, to exploit the advantages of this country, with its location connecting three continents, an area of more than 2 million ^km2 , both desert and sea, with diverse climate conditions, favorable for industrial, agricultural and service development. According to the Prime Minister, Vietnamese enterprises can invest in Algeria "from tea planting to chip production" and this is very feasible.

Leaders of Vietnamese and Algerian ministries and branches, delegates attending the Forum. (Photo: NHAT BAC/VGP)

The first pillar of cooperation mentioned by the Prime Minister is energy, accordingly, the National Energy Industry Group (Petrovietnam) and other enterprises need to continue to coordinate to expand cooperation and investment in Algeria in the exploitation and refining of petrochemicals for export to other countries, including fertilizers; the spirit is "must research and invest immediately, without delay". Along with that are new energy fields such as wind power and solar power.

More broadly, Vietnamese enterprises can invest in Algeria from tea cultivation, livestock farming, forestry, animal feed, rice cultivation... to high technology such as semiconductor chip production, space conquest products... Viettel Group can cooperate with Algerian partners to produce 5G and 6G equipment.

Taking time to discuss the agricultural sector in depth, the Prime Minister said that Vietnam has a lot of experience in rice cultivation, tea cultivation, aquaculture, seafood processing, etc. Currently, Vietnam not only exports agricultural products but also advocates exporting agricultural experience, models and technology to the world, as directed by General Secretary To Lam. Therefore, Vietnamese enterprises can deploy investment in Algeria, cultivate on the spot, export products on the spot to Africa, Europe, the Middle East and reduce taxes, costs, etc.

The Prime Minister believes that Algeria's land and resources, combined with the intelligence of the two countries' people and the spirit of solidarity and mutual assistance, will help create material wealth, because "nothing is impossible."

The Prime Minister also said that in the cooperation between the two countries, it is necessary to boldly assign work and place orders to enterprises, promote the role of both state-owned enterprises, private enterprises, small and medium-sized enterprises, with the spirit of the highest efficiency, with sincere affection and responsibility, "from heart to heart", considering Algeria's interests as Vietnam's interests, Algeria's achievements as Vietnam's achievements.

Regarding the mechanism, the Prime Minister suggested that both sides continue to promote the role and upgrade the Vietnam-Algeria Joint Committee for Economic, Scientific and Technical Cooperation, and implement it flexibly. If it exceeds their authority, they must report to the Prime Ministers of the two countries. At the same time, the agencies and banks must find the most convenient and safest payment methods.

The Prime Minister said that the policy belongs to the two States and political leaders, but to turn the policy into products and concrete results, it must come from the ministries, branches, agencies and especially the businesses of the two countries.

The Prime Minister believes that with new momentum, new motivation, new resources, and the results that both sides have achieved, the two sides will act in accordance with the newly established Strategic Partnership and be worthy of previous generations, further promoting the precious heritage of solidarity, unity, sharing, selfless and transparent assistance. From there, the two countries' potential differences, outstanding opportunities, and competitive advantages will be transformed into specific, measurable projects, products, and results, contributing to building two powerful and prosperous countries, with people increasingly prosperous and happy.

THANH GIANG

Source: https://nhandan.vn/hop-tac-kinh-te-viet-nam-algeria-khong-co-bat-cu-gioi-han-can-tro-nao-post924381.html