Hanoi (VNA) - Vietnam wishes to enhance oil and gas cooperation with Algeria, especially in the supply of petroleum services, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan told Chairman of the Algeria - Vietnam Parliamentary Friendship Group Saleh Djeghloul during a working session in Hanoi on April 24.
Tan praised Algeria’s role and stature as one of North Africa’s leading economies and a promising market with strong demand for imported goods, affirming that Algeria is one of Vietnam's key partners in the region.
He noted the robust growth in two-way trade, with Vietnam’s exports to Algeria reaching nearly 150 million USD so far this year, more than doubling year-on-year. This upward trend, he said, lays a strong foundation to expand economic and trade ties by leveraging each nation’s strengths.
The host encouraged Algeria to tap into Vietnam’s reliable supply of agricultural products, seafood, processed foods, consumer goods, and construction materials. He also proposed revising the 1994 Bilateral Trade Agreement to facilitate export-import activities and urged both sides to promote business participation in trade events, inviting Algerian firms to the Vietnam International Sourcing from April 4-6 and the Vietnam Foodexpo from November 12-15.
In the energy sector, Tan called for Algeria’s support to ensure the stable and efficient operation of the joint oil and gas venture, and facilitate the Vietnam National Industry - Energy Group (Petrovietnam)’s access to new projects in the country.
Djeghloul, visiting Hanoi from April 21-26, expressed Algeria’s profound regard for Vietnam and reaffirmed the commitment to fostering cooperation between the Algerian Parliament and Vietnam’s National Assembly.
He outlined Algeria’s ongoing policy reforms aimed at reducing reliance on oil and gas exports, creating an open investment environment, and boosting domestic production.
Highlighting Algeria’s rich mineral resources, including world-class iron ore reserves, and its renowned agricultural products like olives and dates, he invited Vietnamese firms to explore industrial investment opportunities in Algeria.
The Algeria–Vietnam Parliamentary Friendship Group stays ready to act as a bridge to advance Vietnam’s proposals, contributing to the strong political and diplomatic ties between the two nations, he said./.
