Algeria

Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan (middle) introduces the potential of import-export activities between Viet Nam and Algeria and Senegal at the event. — VNA Photo

More than 200 businesses from Algeria, Senegal and Viet Nam operating in various sectors joined an online trade exchange among the three countries on April 5 and 6.

Addressing the event, Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, said that in the context that countries still closed their borders to prevent the spread of the COVID-19 pandemic, the event was an important activity to foster connections among enterprises of the three countries.

Phu said he hoped participants would optimise this opportunity to explore each other’s potential and demand to set up partnerships, thus supporting each other to overcome difficulties for common development.

Vietrade was willing to coordinate with and create favourable conditions for businesses from Viet Nam, Algeria and Senegal to cooperate in an effective, stable and long-term manner, said Phu.

Vietnamese Ambassador to Algeria and Senegal Nguyen Thanh Vinh said that this was the second trade exchange that had been held since the pandemic broke out after the first one in November last year, aiming to give a chance for enterprises of the three countries to meet and exchange ideas.

He said the embassy would accompany businesses of the three countries in exploring each other’s markets and seek cooperation opportunities.

Representatives from Algeria and Senegal introduced the potential and cooperation demand of the two countries with Viet Nam, while proposing measures to further promote mutual understanding among the firms and set up partnerships.

President of Algeria’s Organisation of National Economic Development Roubai Nasreddine Mounir said that the potential market of Algeria would be an important gateway for Vietnamese enterprise to strengthen investment and trade ties with Algeria in particular and Africa in general.

Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan, who is also in charge of Senegal, Mali, Nigeria, Gambia and Tunisia, introduced the potential of import-export activities between Viet Nam and Algeria and Senegal, as well as relevant regulations, payment methods and tax policies in the three markets.

He also called on businesses from Algeria and Senegal to attend upcoming trade events in Viet Nam such as Vietnam Expo 2021 from April 14-17, and Vietnam AutoExpo 2021 from May 20-23.

Viet Nam’s customs statistics showed that trade between Viet Nam and Algeria was US$150 million in 2020, a 20 per cent decrease from $190 million in 2019 due to the COVID-19 pandemic.

Viet Nam mostly exports coffee, rice, peppercorn, seafood, steel, computers, electronics and spare parts, and equipment to Algeria, while importing pharmaceuticals, minerals, and animal feed from the country.

Noting that the results had yet to meet cooperation potential between the two sides, he called on Algerian investors to increase investment in Viet Nam, a gateway to the Asian market and especially a 650-million-strong ASEAN market.

Meanwhile, trade between Viet Nam and Senegal was only $95 million in 2019. — VNS

Vietnam is calling for investment from African enterprises as the country is the gateway to Asian market, especially ASEAN with 650 million customers.

Over 200 enterprises from Algeria, Senegal and Vietnam operating in various fields of agriculture, food, textile, footwear, electronics and pharmacy took part in an online conference discussing cooperation potential and ways to boost trade and investment between the three countries.

Overview of the online meeting. Photo: VNA

The event was jointly held by the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE), the Chamber of Commerce, Industry and Agriculture of Dakar, Senegal, the Vietnam Embassies in the two African countries, and the Organization for Economic Cooperation and Development of Algeria (ONDE) on April 5-6.

“As countries around the world are still closing their borders amid Covid-19 pandemic, trade promotion activities are key to ensure enterprises from three countries to continue their trading activities,” said VIETRADE’s Head Vu Ba Phu.

ONDE’s President Roubai Nasreddine Mounir highlighted the importance of the event at a time when the global economy is still struggling with Covid-19 impacts.

Mounir said Algeria is a potential market and a gateway for Vietnamese enterprises to boost its trade relations with the African region.

On this occasion, the Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan called on enterprises from Algeria and Senegal to take part in upcoming trade events in Vietnam, including the Vietnam Expo 2021 [from April 14-17], Vietnam Furniture Matching Week 2021 [April 12-19], and Autotech & Accessories 2021 [from May 20-23].

Statistics from the General Department of Vietnam Customs (GDVC) revealed two-way trade turnover between Vietnam and Algeria in 2020 declined by 20% year-on-year to US$150 million as a result of the Covid-19 pandemic.

Vietnam’s major export products to Algeria include coffee, rice, pepper, seafood, steel, computers, electronic products and machinery, while the African country mainly imports medicine, mineral and animal feed from the latter.

“Such trade figure remains disproportionate  to the potential from the two countries,” said Nhuan, adding Vietnamese enterprises could consider investing in manufacturing, tourism, and technology in Algeria to further access the African market, especially as the African Continental Free Trade Agreement (AfCFTA) became effective since January 1, 2021.

“Vietnam is also promoting investment from Algerian companies, as the country could open the door for them to penetrate Asian market, in particular the ASEAN with 650 million customers,” Nhuan added.

Meanwhile, Vietnam – Senegal trade turnover was around US$95 million in 2019, with Vietnamese major export products to Senegal being smart phones, textile, vegetables and seafood. Senegal mainly exports to Vietnam cashew nuts, animal feed and cotton.

Vietnamese Trade Councilor in Algeria Hoang Duc Nhuan (middle) introduces the potential of import-export activities between Vietnam and Algeria and Senegal at the event (Photo: VNA)

Algiers (VNA) – More than 200 businesses from Algeria, Senegal and Vietnam operating in various sectors joined an online trade exchange among the three countries on April 5 and 6.

Addressing the event, Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, said that in the context that countries have still closed their borders to prevent the spread of the COVID-19 pandemic, the event is an important activity to foster connections among enterprises of the three countries.

Phu said he hoped participants would optimise this opportunity to explore each other’s potential and demand to set up partnership, thus supporting each other to overcome difficulties for common development.

Vietrade is willing to coordinate with and create favourable conditions for businesses from Vietnam, Algeria and Senegal to cooperate in an effective, stable and long-term manner, said Phu.

For his part, Vietnamese Ambassador to Algeria and Senegal Nguyen Thanh Vinh said that this is the second trade exchange that has been held since the pandemic broke out after the first one in November last year, aiming to give a chance for enterprises of the three countries to meet and exchange.

He affirmed that the embassy will accompany businesses of the three countries in exploring each other’s markets and seek cooperation opportunities.

Representatives from Algeria and Senegal introduced the potential and cooperation demand of the two countries with Vietnam, while proposing measures to further promote mutual understanding among the firms and set up partnerships.

President of Algeria’s Organisation of National Economic Development Roubai Nasreddine Mounir said that the potential market of Algeria is an important gateway for Vietnamese enterprise to strengthen investment and trade ties with Algeria in particular and Africa in general.

Vietnamese Trade Councilor in Algeria Hoang Duc Nhuan, who is also in charge of Senegal, Mali, Nigeria, Gambia and Tunisia, introduced the potential of import-export activities between Vietnam and Algeria and Senegal, as well as relevant regulations, payment methods and tax policies in the three markets.

He also called on businesses from Algeria and Senegal to attend upcoming trade events in Vietnam such as Vietnam Expo 2021 from April 14-17, and Vietnam AutoExpo 2021 from May 20-23.

Vietnam’s customs statistics showed that trade between Vietnam and Algeria was 150 million USD in 2020, a 20 percent decrease from 190 million USD in 2019 due to the COVID-19 pandemic .

Vietnam mostly export coffee, rice, peppercorn, seafood, steel, computers, electronics and spare parts, and equipment to Algeria, while importing pharmaceuticals, minerals, and animal feed from the country.

Noting that the results have yet to meet cooperation potential between the two sides, he called on Algerian investors to increase investment in Vietnam, a gateway to the Asian market and especially a 650-million-strong ASEAN market.

Meanwhile, trade between Vietnam and Senegal was only 95 million USD in 2019./.

Prestigious newspapers and websites such as El-Moudjahid, Cresus, Reporters, La Patrie-news, Culture-Algerie, Reseau-international, and Algerie360 ran articles saying the newly-elected leaders have high prestige.

They also commended the socio-economic and diplomatic achievements Vietnam recorded during the 2016-2021 period, most notably the successful implementation of the dual goals of containing the pandemic and maintaining economic growth last year.

According to the articles, with his rich experience, Prime Minister Pham Minh Chinh is expected to help the Government overcome the existing difficulties and challenges to fulfil the strategic targets set for the next five years.

They also lauded Vietnam’s rising position in the international arena, especially it assuming the United Nations Security Council Presidency this month, adding that this is the second time the country has held the seat in the 2020-2021 tenure.

It presents a major opportunity for the country to contribute to peace, security, and prosperity in the region and the world in a more active, proactive, and responsible manner, the articles said.

While highlighting the traditional relations and friendship between Vietnam and Algeria, the articles also noted that many fields of endeavor are yet to match potential, especially in economy, trade, and investment.

The authors believe that the new Government in Vietnam will adopt suitable mechanisms and policies to further step up bilateral ties.

Vietnamese Ambassador to Algeria Nguyen Thanh Vinh said the articles contribute to promoting Vietnam’s image and raising understanding among Algerians, particularly young people, about the country as well as the bilateral relationship.

Source: VNA