Vietnam and Algeria are aiming for 470 million USD in two-way trade in 2015, up 20 percent against last year, Commercial Counsellor Nguyen Van Mui said.

To achieve the target, Vietnam should hold more trade and investment promotion activities in the country, Mui said.

He also called for bettering connection between the two sides’ businesses via exhibitions and trade fairs in both countries, in a bid to help them find partners and opportunities.

According to the official, there are great potentials for bilateral cooperation in the fields of construction, agro-fishery product processing, consumer goods, pharmaceuticals and tourism, as Vietnam has strong businesses and good experience while Algeria also wants to attract investment in these fields.

An oil and gas joint venture between PetroVietnam and Algerian partners is expected to start exploitation in the first quarter this year, with daily output of about 20,000 barrels.

In addition, Vietnam hopes to send 1,000 workers to the African country this year.

The two countries have set the target of 1 billion USD in two-way trade by 2020, and increase the number of Vietnamese skilled workers and technicians working in Algeria to 1,500-2,000.

Bilateral trade turnover 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. Algeria’ exports to Vietnam stood at only 800,000 USD.-VNA