Great potential for Vietnam- Algeria trade cooperation

Update: 03-05-2014 | 00:00:00

Vietnamese exports to Algeria have steadily increased in recent times, up almost 40% year-on-year in 2013, making the North African nation one of the country’s largest export markets. In the first quarter of 2014, official statistics show exports jumped 32% compared to the same period last year tallying US$67.89 million. Of the figure, coffee exports accounted for the lion’s share at US$30.97 million, and telephone and component exports trailed a distant second at US$18.51 million. Vietnamese major exports to Algeria are coffee, rice, pepper, coconut rice, and seafood. Due to the peculiarities of the market’s demand, there is a vast potential for Vietnam to also export such items as garment and textiles, footwear, wood, computers and components, construction materials, and electronics. Additionally, a number of Vietnamese commodities have a good prospect of penetrating the market, including steel and iron, fruits and vegetables, rubber, ships, footwear, and handicrafts. The Algerian Government is currently implementing programmes to attract investment in the processing industry, agriculture, and consumer goods production as part of an effort to boost the nation’s economy, diversify its industries and generate jobs. Furthermore, the Algerian government has expressed a keen interest in cooperating with Vietnam in investment, technological transfer, especially in the processing and manufacturing industry.                                                                                                                                       VOV

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