Vietnam, Algeria forge stronger economic bonds

The Vietnam Trade Office in Algeria held a meeting with representatives from several Algerian trade promotion organisations and businesses on January 15 to look back on bilateral trade and chart a course for future collaborations.

Illustrative image (Photo: VNA)
Illustrative image (Photo: VNA)

Algiers (VNA) - The Vietnam Trade Office in Algeria held a meeting with representatives from several Algerian trade promotion organisations and businesses on January 15 to look back on bilateral trade and chart a course for future collaborations.

The event brought together representatives from the National Economic Development Organisation of Algeria (ONDE), the Arab-African Centre for Investment and Development (CAAID), the Algerian Forum for Import, Export, International Trade and Investment (AFIETI), along with 15 firms specialising in trade, export-import of agricultural and food products, forestry and industrial goods.

Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan highlighted the current state of bilateral trade, citing statistics from the General Department of Vietnam Customs as saying that two-way trade was estimated at 220 million USD last year.

He spotlighted the Bir Seba oil field as a symbol of successful teamwork, a joint venture involving Vietnam's PetroVietnam, Thailand's PTTEP, and Algeria's Sonatrach that work hand in hand to pump out 16,000-18,000 barrels of oil daily since August 2015.

Nhuan extended invitations to Algerian agencies and companies to attend several international trade events in Vietnam this year, including the Buon Me Thuot Coffee Festival in March, the Vietnam Expo in April and December, the Vietnam International Sourcing Expo 2025 in September, and the Vietnam Food Expo in November.

Algerian firms showed a strong interest in importing Vietnamese raw coffee, cashews, almonds, timber and wooden products, while expressing a desire to export Algerian olive oil and chicken feet to Vietnam.

Nabil from the AFIETI announced that Algeria would send a delegation to the Vietnam Expo in Hanoi in April 2025.

Algerian companies are on the hunt for Vietnamese partners to produce footwear, textiles, pharmaceuticals, and chemicals, aiming not just for local markets but the expansive African Continental Free Trade Area (AFCFTA), he said.

Mahdi Aimane, responsible for international relations at the ONDE, suggested creating an electronic platform, envisioning a digital highway connecting businesses from both nations.

Nhuan stressed the importance of continuous engagement, from facilitating delegations, attending international fairs and exhibitions, to market information sharing, business matchmaking, partner verification, and settling any disputes that may arise during cooperation.

The meeting concluded on a warm note with Algerian delegates enjoying a taste of Vietnamese coffee and exploring an exhibition room at the Vietnam Trade Office./.

VNA

See more

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Cuban commerce official optimistic about bright future of Vietnam-Cuba cooperative ties

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.

Honda Vietnam's new CEO, Sayaka Hattori (Photo: VNA)

Honda Vietnam has new female CEO

Sayaka Hattori, a Japanese national with over 25 years of experience in the automobile and motorcycle industry, was appointed as new CEO of Honda Vietnam on April 1.