More than 200 enterprises attend Vietnam-Algeria-Senegal trade conference

Tuesday, 2021-04-06 13:22:23
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At the conference in Algiers. (Photo: VNA)
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NDO – More than 200 enterprises operating in various areas from Algeria, Senegal and Vietnam participated in an online trade conference on trade and investment cooperation between the three countries.

The event was held by the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, the Vietnamese Embassy in Algeria and Senegal, the Chamber of Commerce, Industry and Agriculture of Dakar, Senegal, and the Organisation for Economic Cooperation and Development of Algeria.

The conference was organised simultaneously in Algiers, Dakar and Hanoi on April 5 and 6 and aimed to promote trade and investment between the three countries.

Director of the Vietnam Trade Promotion Agency (Vietrade) Vu Ba Phu said that the conference is one of important trade promotion events to connect enterprises of three countries in the context that many countries are closing their borders due to effects of the COVID-19 pandemic.

“I hope that Vietnamese, Algerian and Senegalese enterprises will make the most of the transaction time at the conference to share potentials and commercial needs to support each other in overcoming economic difficulties for mutual development. Vietrade is always ready to coordinate and create favourable conditions for Vietnamese, Algerian and Senegalese businesses to have more opportunities for effective, long-term and stable business cooperation,” Vu Ba Phu said.

Chairman of the Chamber of Commerce, Industry and Agriculture of Dakar Abdoulaye Sow and Head of the Organisation for Economic Cooperation and Development of Algeria Roubai Nasreddine Mounir shared the economic potentials and cooperation demand of Senegal and Algeria while giving recommendations to help three countries strengthen mutual understanding and establish a reliable partnership.

Bilateral trade revenue between Vietnam and Algeria reached US$190 million in 2019 but decreased to US$150 million in 2020, down 20% compared to 2019 as a result of the COVID-19 pandemic.

Vietnam’s main export products to Algeria include coffee, rice, pepper, seafood, steel products, computers, electronic products while main import products from Algeria are pharmaceuticals, minerals, scrap paper, and animal feed.

Trade volume between Vietnam and Senegal posted a modest number at US$95 million in 2019.

The main commodities that Vietnam exports to Senegal include rice, pepper, confectionery, cereal products, mobile phones and spare parts, textiles, vegetables and seafood, while the main imports from Senegal are cashew nuts, animal feed, and cotton.