The 12th meeting of the Vietnam-Algeria Inter-Governmental Committee opens in Hanoi on October 16. (Photo: VNA) Hanoi (VNA) – Vietnamese Minister of Construction Nguyen Thanh Nghi and Algerian Minister of Industry and Pharmaceutical Production Ali Aounco-chaired the 12th meeting of the Vietnam-Algeria Inter-GovernmentalCommittee which opened in Hanoi on October 16.
Speakingat the opening ceremony, Nghi described Algeria as a major partner and thefourth largest export market of Vietnam in Africa. Due to the COVID-19 pandemic and other factors, two-way tradebetween Vietnam and Algeria reached only 144.2 million USD in 2022, 141 million USD of which wasVietnam’s exports.
Cooperation in the oil and gas sector is a bright spot of bilateraleconomic ties. The joint venture for oil and gas exploration and exploitationin Algeria between Petrovietnam Exploration Production Corporation (PVEP)and its partners Sonatrach Algeria and PTTEP Thailand is progressing effectively,with plans to continue with the second phase.
Progress has also been seen in collaboration inagriculture, aquaculture, information technology, tourism, and other fields. Inaddition to coordination between ministries and departments, the signing ofagreements and twinned relations between Vietnam's Dien Bien province andAlgeria's Batna province in August 2023 has contributed to the diversificationof cooperation between the two countries.
Nghi suggested the two sides focuson reaching consensus on key areas such as trade in agricultural and consumergoods, oil and gas, agriculture, information technology, tourism, construction,and more.
The important meeting is scheduled to last till October 18. (Photo: VNA) Regardingnew cooperation proposals, the Vietnamese side received draft agreements fromAlgeria in the fields of healthcare, education, vocational training, tourism,sports, energy, and investment. Vietnamese ministries and agencies will discusswith their Algerian counterparts during the meeting to determine the potential cooperationareas of shared interest, with the aim of signing cooperation agreements at anappropriate time, he said.
Aoun highlighted themutually beneficial nature of cooperation between the two countries, describing Vietnamas an important economic partner of Algeria in Asia.
Algeria wishes to continue developing its economic ties withVietnam by strengthening economic and trade cooperation, fostering tradeexchange and exploring new investment projects, he said.
He added that the meeting will provide a platform for ministries and agencies from the two countries to share ideas, propose solutions and necessaryresources to advance and diversify bilateral collaboration activities.
Themeeting is scheduled to last till October 18./.
