Illustrative photo (Source: VNA) Organised by the Arab-African Center for Investment andDevelopment (CAAID), the event connects 650 investors, leaders ofregional and international organisations, experts, and representatives of commercechambers from 35 countries. The Vietnamese delegation to the forum is led by Ambassador to Algeria Nguyen Thanh Vinh.
According to Vinh, the embassy’s presence in the event is tomeet and discuss with participating businesses and ambassadors about thepotential for cooperation and investment in African countries as well as tointroduce Vietnamese products.
Trade Counselor in Algeria Hoang Duc Nhuan,meanwhile, said that Vietnam and African countries have a lot of potential for collaborationin trade and investment, in the context of the latter implementing the AfricanContinental Free Trade Area (AfCFTA).
Trade between Vietnam and 55 African countries exceeded 7billion USD in 2021, with key Vietnamese exports to the region includingindustrial products, farm produce, and processed goods. Vietnam imported mainlyproduction materials, liquefied petroleum gas, and copper from Africa.
To date, more than 20 African countries have invested about2.3 billion USD in Vietnam, while Vietnam has poured 3.5 billion USD in Algeria,Cameroon, Angola, Tanzania, and Mozambique, among others.
In addition to attending the forum, the Vietnamesedelegation also runs a stall offering Vietnamese products at a fair on thesidelines./.
VNA
