Vietnam and Algeria discuss potential for economic and trade cooperation

Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan briefly introduced the economic and foreign trade situation of Vietnam and the trade and investment cooperation between the two countries.

Delegates attending the seminar. (Photo: Trung Khanh/VNA)

In order to promote trade and investment exchanges between Vietnam and Algeria in general and Béjaia province in particular, on April 2, the Vietnam Trade Office in Algeria coordinated with the Béjaia Chamber of Commerce and Industry to organize a seminar to introduce the potential for economic and trade cooperation between the two countries.

Attending the event on the side of Béjaia province were leaders of the Chamber of Commerce and Industry, the Department of Trade and Export Promotion, the Council of Olive Producers, representatives of the Béjaia seaport and 15 local businesses operating in the fields of import and export of agricultural products, food, packaging, logistics, cold storage...

President of the Béjaia Chamber of Commerce and Industry - Mr. Mamasse Samir, said that Béjaia is a province located in the northeast of the country, about 300 km from the capital Algiers, has the second largest seaport in Algeria, and is also a major commercial and industrial center.

With a population of about 1.2 million, the province has 4 industrial parks and 31,746 enterprises mainly operating in the fields of food, wood and paper, metallurgy, mechanics, electricity, electronics, construction materials and textiles. There are a number of companies in the province importing coffee and spices from Vietnam.

With 100 km of coastline, Béjaia also has great potential for tourism development.

On this occasion, Mr. Mamasse Samir called on Vietnamese enterprises to invest and form joint ventures on the basis of mutual benefit, and affirmed that the Béjaia provincial government always creates favorable conditions for foreign investors with many preferential policies on taxes and industrial land lease.

Speaking at the event, Commercial Counselor Hoang Duc Nhuan briefly introduced the economic and foreign trade situation of Vietnam and the trade and investment cooperation between the two countries.

According to statistics from Vietnam Customs, bilateral trade is estimated to reach about 250 million USD in 2023, an increase of 68% compared to 2022.

He also provided information and invited Algerian businesses to attend the International Supply Chain Connection Exhibition (Viet Nam International Sourcing) taking place from June 6-8 in Ho Chi Minh City.

At the event, the Trade Office also displayed and introduced catalogues and samples of coffee, pepper, cashew nuts, cinnamon, star anise, coconut rice, plywood, etc. from Vietnamese enterprises.

Businesses in Béjaia expressed interest in importing raw coffee, cashew nuts, sugar, soybeans, sunflower seeds (for cooking oil production), bags, containers, raw materials for cork production, sports goods from Vietnam and the desire to export olive oil, margarine, sauces, etc. to Vietnam, as well as seeking partners in the fields of textile production, agricultural processing, refrigeration equipment production, logistics and tourism./.

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