Visitors at Vietnam's booth during AFIC10. - VNA/VNS Photo

Algiers - The 10th African Investment, Commerce Forum (AFIC10) took place in Algiers, Algeria, on May 4 and 5, bringing together about 800 delegates from 39 countries and territories.

Held under the theme "Your Road to the African Market," the forum, organised by the Arab-African Centre for Investment and Development (CAAID), highlighted the importance of implementing the African Continental Free Trade Agreement (AfCFTA) and fostering increased intra-regional trade.

The event facilitated hundreds of business-to-business meetings, fostering partnerships and collaboration among stakeholders seeking entry to the African market.

An accompanying exhibition showcased diverse sectors, including export, trade, agriculture, food processing, tourism, services, technology and digital transformation. Additionally, sectors like energy, construction, public administration, healthcare, pharmaceuticals, investment, finance, transportation, and environment were represented.

The Vietnamese Embassy and the Vietnam Trade Office in Algeria collaborated to set up a booth showcasing various Vietnamese products to potential African partners, such as coffee, pepper, cashew nuts, macadamia nuts, coconut rice, pharmaceuticals and handicrafts.

Vietnamese Commercial Counselor in Algeria Hoàng Đức Nhuận said it is the fourth time Việt Nam has joined the event with a view to understanding trade and investment policies across Africa.

According to Việt Nam's customs data, the export turnover between Vietnam and Africa increased by 31.7% in the first quarter of this year. The trade figure between Vietnam and Algeria reached $75 million, up 16% year on year. - VNS