Illustrative image (Source: VNA) At a recent consultation for domestic firms held by the Trade Promotion Agency underthe Ministry of Industry and Trade, Thuan said that at the end of the first quarter of 2022, Vietnamshipped 30.95 million USD worth of goods to Algeria, mostly coffee, pepper,aquatic products, metal and chemicals.
According to the official, Algeria has great demand forcoffee, green tea, rice, footwear, iron and steel products, packagingmaterials, wood and wooden furniture, automobile accessories and spare parts,and household appliances.
He underlined that Algeria has encouraged foreign investors,including those from Vietnam, to seek partnership in production in the countryto improve its domestic production capacity, diversify the economy and reduceits dependence on oil.
An overview of the consulting session (Photo: VNA) Besides, Vietnamese firms can also take advantage of the AfricanContinental Free Trade Area which took effect from January 1, 2021, toincrease investment in gateway markets in Africa to enjoy benefit from originincentives, workforce, and on-site materials.
To exploit this market, Thuan advised Vietnamese businessesto provide full and detailed information on the products and offer affordable pricesas the import tax rate in Algeria is quite high, while focusing more onpackaging and maintaining their high prestige in the market./.
According to the official, Algeria has great demand forcoffee, green tea, rice, footwear, iron and steel products, packagingmaterials, wood and wooden furniture, automobile accessories and spare parts,and household appliances.
He underlined that Algeria has encouraged foreign investors,including those from Vietnam, to seek partnership in production in the countryto improve its domestic production capacity, diversify the economy and reduceits dependence on oil.
An overview of the consulting session (Photo: VNA) To exploit this market, Thuan advised Vietnamese businessesto provide full and detailed information on the products and offer affordable pricesas the import tax rate in Algeria is quite high, while focusing more onpackaging and maintaining their high prestige in the market./.
VNA
