Vietnamese firms updated on Algerian market
The Trade Office of Vietnam in Algeria held an online consulting session on export to and investment in the North African country for Vietnamese businesses on March 27.
The 42 participating companies operate in such fields as agro-forestry-fishery export and import, food, beverage, rubber, logistics, international transportation, packaging, printing, pharmaceutical, furniture, training equipment, and nanotechnology.
The office updated them about Algeria’s economic situation, trade and investment policies, the two countries’ relations, bilateral export and import, along with investment and labour partnerships.
It also mentioned potential products for export to Algeria, advantages and difficulties when entering this market, the local business culture, payment methods, noteworthy points about partner search and verification, and ways for resolving disputes, among others.
An office representative also fielded businesses’ questions about risk prevention measures and authorities’ assistance for companies in seeking partners.
The Trade Office also introduced some coming business matching events in Algeria, including the International Food Industry Exhibition (Djazagro) in April, the Algiers International Fair (FIA) in June, the International Fair of Wood, Woodworking, Equipment and Technologies (Algeria Woodtech) in September, and the International Fair of Textile, Apparel, Leather & Equipment (TexStyle-Expo) in November, and invited them to attend.
Algeria, the fourth largest economy in Africa, has demand for the products that are also strengths of Vietnam, especially agricultural ones like raw coffee, peppercorn, cashew nut, copra, and freshwater aquatic products, according to the Trade Office.
Data of the Algerian customs agency show that trade turnover between the two countries stood at about US$300 million in 2023, surging 68% year on year.
