Businesses from Vietnam, Algeria, Senegal seek partnership opportunities

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.

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

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./.

VNA