Việt Nam, Algeria seek to promote trade, investment at SIPA 2019

 

Vietnamese Trade Counsellor to Algeria Hoàng Đức Nhuận (right) works with an Algerian business operating in the area of aquaculture feed processing. — VNA/VNS Photo

ALGIERS – Vietnamese Trade Counsellor in Algeria Hoàng Đức Nhuận attended the 8th International Exhibition of Fishing and Aquaculture (SIPA 2019), seeking to promote trade and investment with Algeria.The SIPA 2019 was launched on Wednesday in the presence of Algerian Minister of Agriculture, Rural Development and Fishing Cherif Omari and will run through Saturday.The biennial event, held since 2013, provides a platform for Algerian and foreign businesses to meet and explore opportunities for trade and investment in fisheries and aquaculture.This year’s event, themed “Fisheries and Aquaculture, driving forces towards sustainable economic development in Algeria,” features about 100 booths run by domestic and international exhibitors in fishing, aquaculture, processing, packaging, fish feed, shipbuilding and more.Later the same day, Nhuận met with Vice President of the Oran Chamber of Commerce and Industry (CCI Oran) Kehal Nacer and representatives of some member businesses. Both sides introduced to each other their potential and advantages and showed their interest in further beefing up the bilateral trade and investment.Nhuận invited companies in Oran and Algeria to upcoming international expos in Việt Nam, such as Vietnam Expo and Vietnam Food Expo.He asked the Oran side to support Việt Nam in seeking local partners and also said that there is a Vietnamese firm who wants to build a coffee processing plant in Algeria.Nacer welcomed his guest’s invitation and proposal, and agreed to meet with the Việt Nam Chamber of Commerce and Trade (VCCI) to cooperate in business matching.According to Trade Counsellor Nhuận, Việt Nam and Algeria signed a Memorandum of Understanding in fisheries and aquaculture in 2010. Seafood remains in Việt Nam’s Top 5 export items to Algeria. Việt Nam annually exports to Algeria US$9 million – $10 million worth of seafood, mostly frozen pangasius, basa, tuna and shrimp.Data from the General Department of Việt Nam Customs showed that Việt Nam’s export to Algeria totalled $135 million in the first three quarters of this year with the main items including coffee, metal products, mobile phones, seafood, pepper, rice, clothing and footwear. — VNS