Algeria is willing to give priorities and create favourable conditions for Vietnamese businesses to invest effectively in Algeria, according to the country’s Minister of Industry and Mining Abdessalem Bouchouareb.

Bouchouareb made the statement while meeting with Vietnamese Minister of Planning and Investment Bui Quang Vinh in Algiers on June 1.

The two sides agreed to focus on investment cooperation in the fields of garments, footwear, telecommunications, and fertiliser, as Vietnam has strong potential and good experience while Algeria also wants to attract investment in these fields.

Bilateral trade turnover between Vietnam and Algeria reached a record 370 million USD in 2014, up 30 percent against 2013. Most of the trade value came from Vietnam ’s exports, including 135 million USD worth of coffee, 95 million USD worth of phones and parts and 28 million USD worth of rice. Algerian exports to Vietnam stood at only 800,000 USD.-VNA