Vietnam and Algeria aim for bilateral trade turnover of 1 billion USD

The 4th Vietnam-Algeria Political Consultation. (Photo: The World and Vietnam Newspaper)

On October 27, in Hanoi, Deputy Foreign Minister Le Anh Tuan and Secretary General of the Ministry of Foreign Affairs, Algerian Community Abroad and African Affairs Lounes Magramane co-chaired the 4th Vietnam-Algeria Political Consultation.

During the political consultation, the two sides informed each other about the situation in each country, reviewed bilateral cooperation in the past time, and exchanged specific directions and measures to promote the traditional relationship and friendly cooperation between Vietnam and Algeria in the coming time, as well as discussed international and regional issues of mutual concern.

Deputy Minister Le Anh Tuan and Secretary General Lounes Magramane agreed to strengthen coordination between the two countries' foreign ministries , including promoting high-level delegation exchanges between the two countries, creating a political foundation for bringing the relationship to a new stage of cooperation, commensurate with the roles, positions and potentials of the two countries.

The two sides agreed to focus on and further promote economic-trade-investment cooperation as a key pillar in bilateral relations, aiming for a bilateral trade turnover of 1 billion USD in the coming time.

Deputy Foreign Minister Le Anh Tuan and Secretary General of the Ministry of Foreign Affairs, Algerian Community Abroad and African Affairs Lounes Magramane. (Photo: The World and Vietnam Newspaper)

Deputy Minister Le Anh Tuan asked Algeria to create conditions for the Bir Seba Oil and Gas project to operate effectively in Algeria and support Vietnam in developing the Halal industry.

Secretary General Lounes Magramane expressed his joy and admiration for Vietnam's development achievements, especially in socio-economic aspects; and affirmed the Algerian leadership's determination to maintain and further promote the traditional relationship and friendly cooperation between the two countries, which were nurtured from the history of the two peoples' shared struggle for independence and freedom.

Mr. Lounes Magramane said that Algeria is in the process of reforming the investment law to encourage foreign investors to invest in Algeria. He hopes to attract Vietnamese enterprises to invest, cooperate and do business in Algeria and will create favorable conditions for Vietnamese investors, including the PVEP Oil and Gas Exploration and Production Corporation.

The two sides agreed to expand cooperation in new areas such as automobile production, electronic components, new technology, etc., while promoting cultural and sports exchanges, strengthening friendship and solidarity, and educating young generations about the historical traditions of the two nations.

Discussing the world and regional situation, the two sides affirmed to promote multilateralism, international cooperation, and resolve disputes by peaceful means in accordance with international law and the United Nations Charter.

The two sides agreed to continue to coordinate and support each other at multilateral forums of which Vietnam and Algeria are both members, especially at the United Nations.

Source: https://nhandan.vn/viet-nam-va-algeria-huong-toi-kim-ngach-thuong-mai-song-phuong-dat-1-ty-usd-post918475.html