Vietnamese firms seek cooperation opportunities in African markets

Algeria, October 23 (VNA) – A hybrid workshop connecting businesses from Vietnam, Algeria, and Senegal was held on October 21 by the Vietnam Trade Office in Algeria, attracting the participation of representatives from around 30 businesses, including several Vietnamese firms already exporting to Algeria and other African countries.

In his opening remarks, Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan cited data of the Department of Vietnam Customs, noting that trade between Vietnam and the two African nations has seen significant growth this year.

In the first nine months, two-way trade between Vietnam and Algeria reached around 450 million USD, more than doubling that of the same period last year. Vietnam’s main exports to Algeria include coffee beans, cashews, pepper, desiccated coconut, chemical products, and fishery products.

Meanwhile, the trade value with Senegal in this period exceeded 100 million USD. Vietnam mainly shipped rice, pepper, textiles, vegetables and fruits, and confectionery to the country.

Nhuan stated the economic growth of the three countries presents new opportunities for stronger partnership. Vietnam, Algeria, and Senegal all have significant potential to expand cooperation on a larger scale, aiming to access markets across Africa, Asia, and other regions worldwide.

He proposed that all parties should improve the legal framework, enhance trade and investment promotion activities, encourage businesses from each country to actively participate in economic events in the other, and disseminate information on trade, investment, finance regulations, customs procedures, and business opportunities.

Several Algerian businesses expressed interest in importing raw materials such as packaging, paper, natural wood, plywood, and cashew Meanwhile, Senegalese participants showed interest in Vietnamese rice.

Vietnamese companies said they stand ready to export raw materials and collaborate with Algerian partners to produce goods locally, an approach seen as well-aligned with Algeria’s current policies to encourage domestic production investment./.