|Minister of Construction Pham Hong Ha (L) and Algerian Minister of Industry and Mines Youcef Yousfi sign the minutes of the 11th meeting of the Vietnam-Algeria Inter-Governmental Committee|
He thanked Algeria for supporting Vietnam over the years, affirming that Vietnam attaches importance to the Vietnam-Algeria Inter-Governmental Committee in implementing joint commitments and signed deals.
Ha also briefed his host on Vietnam’s socio-economic situation and the outcomes of his working sessions with Algerian officials.
He said that the two sides agreed to review shared commitments and agreements to evaluate the results and seek solutions for difficulties and new cooperation plans to hit the target of 1 billion USD in two-way trade by 2020.
The ministers also decided to form joint working groups to review legal foundations and design measures to remove difficulties facing businesses.
Minister Ha said that Vietnam is determined to pay its debts to Algeria.
He asked for the Algerian PM’s close direction for the Vietnam-Algeria Inter-Governmental Committee to improve its effectiveness.
Ha conveyed PM Nguyen Xuan Phuc’s invitation to visit Vietnam to the Algerian PM, who accepted.
For his part, PM Ouyahia noted that Vietnam and Algeria have shared close ties for decades. However, he held that bilateral cooperation has yet to match potential, stressing the need for both sides to remove obstacle to bolster trade.
He called for more favourable conditions for Algerian firms to enter the Vietnamese markets, as well as Vietnam to share its experience in international integration.
Both countries should strengthen investment ties not only in oil and gas but also in other fields such as agriculture, tourism and seafood, he noted.
Earlier the same day, the 11th meeting of the Vietnam-Algeria Inter-Governmental Committee concluded after two working days, with new cooperation contents agreed.
The two sides agreed to bolster collaboration in industry, agriculture, housing, tourism and aquaculture through strengthening bilateral trade and sharing experience and information.
A Vietnam-Algeria Business Council will be established to improve the effectiveness of bilateral trade.
Addressing the closing ceremony, Algerian Minister of Industry and Mines Youcef Yousfi said that two-way trade remained limited at only 270 million USD in 2016, stressing that the two sides should support businesses of each country and seek measures to balance trade.
Meanwhile, Minister Ha said that he hopes ministries, sectors and enterprises of both sides will strengthen exchange of information and ideas.
Both sides agreed to hold the 12th meeting of the Vietnam-Algeria Inter-Governmental Committee in Hanoi in late 2019.