Coffee, accounting for 65 per cent of Việt Nam's total shipments to Algeria, is predicted to be the top Vietnamese product for export. — VNA/VNS Photo

HÀ NỘI — The Việt Nam Trade Promotion Agency (Vietrade) held a virtual conference to promote Việt Nam-Algeria trade and business cooperation on Wednesday.

Hoàng Minh Chiến, deputy head of the agency, said Algeria was one of the potential markets for Vietnamese goods in Africa, especially for coffee, peppercorn, cashew nuts, and freshwater aquatic products, which Algeria has a high demand for but cannot produce.

Notably, coffee, accounting for 65 per cent of Việt Nam's total shipments to Algeria, is predicted to be the top Vietnamese product for export.

Rice also sees good prospects as Algeria imports 100,000 tonnes of rice annually.

Chiến said the two countries' trade value remained modest compared to their potential and strength. The figure was US$153 million last year due to the impact of the pandemic.

In the first half of this year, Việt Nam exported $71.16 million worth of goods to Algeria, mostly seafood, coffee, peppercorn, rice, chemical products and metal.

Hoàng Đức Nhuận, Trade Counselor of Việt Nam in Algeria, said bilateral cooperation was maintained over the past six decades across sectors and improved with the expanded exchange of delegations.

The two sides have signed many important agreements on bilateral trade, maritime transport, trade promotion, and visa exemptions, among others.

However, economic collaboration remains challenging due to the distance and high transport costs.

Nhuận suggested the two governments complete related legal frameworks, establish the Việt Nam-Algeria business council and enhance the role of their competent agencies.

More forums and conferences to raise public awareness of the trade potential should be organised, while Vietnamese and Algerian firms should join trade fairs to find partners for linkage and investment, he added. — VNS