|PetroVietnam Drilling and Well Services Co (PV Drilling) provides technical services in Algeria. Businesses in both countries are being urged to foster trade and investment co-operation to strengthen bilateral relations. — VNA/VNS Photo Ha Thai
HA NOI (VNS)— Deputy Minister of Industry and Trade Tran Tuan Anh has urged Vietnamese and Algerian enterprises to foster trade and investment co-operation to bring bilateral relations between the countries to a higher level.
Speaking to representatives from 100 businesses at a meeting in Algiers on Sunday, Anh introduced Viet Nam's investment policies and incentives as well as its recent achievements in agro-aquaculture production.
He hoped that businesses from the two countries could find opportunities for co-operation in the production, processing and export of farm produce and seafood.
The head of the Algerian Investment Promotion Agency, Ferrouki Lyes, said that the forum was organised at the right time, as Algeria was prepared to establish a foundation for sustainable industrial production without depending on oil exports.
Algerian companies at the forum were provided with useful information about the prospects of a future partnership between the two countries and copies of the book Viet Nam – A Trustworthy Friend and Partner, published by the Vietnamese embassy.
Two-way trade is increasing significantly. Viet Nam's exports to Algeria hit US$129 million in 2012, a year-on-year rise of 28 per cent that made Algeria fifth among African importers of Vietnamese products. However, imports stayed a modest $1.2 million. During the past seven months, Viet Nam's exports to the country rose by 15 per cent to $101.33 million. Coffee topped the list of export items, earning $31.52 million, followed by rice, telephones and components, pepper, seafood, machinery, equipment and tools and steel.
To boost exports, the Africa, West Asia and South Asia Department said it would work with relevant Algerian agencies and the Vietnamese Trade Office to organise a seminar and conduct fact-finding tours of companies, seaports, commercial centres and management agencies to gain a better understanding of import-export and investment policies. — VNS