Vietnam promotes trade exchange and investment at SIPA 2019

Vietnamese Trade Counsellor to Algeria Hoang Duc Nhuan attended and promoted trade exchange and investment with Oran businesses in particular and Algerian firms as a whole at the eighth International Fair for Fisheries and Aquaculture (SIPA 2019), which opened in the Algerian city on November 6.

Vietnamese Trade Counsellor to Algeria Hoang Duc Nhuan (R) works with an Algerian business operating in the area of aquaculture feed processing. (Photo: VNA)
Vietnamese Trade Counsellor to Algeria Hoang Duc Nhuan (R) works with an Algerian business operating in the area of aquaculture feed processing. (Photo: VNA)

The four-day event, which has been held every two years since 2003, offers a platform for Algerian and international companies, including those from Vietnam, to meet, share experience and discuss cooperation opportunities in the areas related to fisheries and aquaculture.

SIPA 2019 features about 100 pavilions and brings together many international organisations and Algerian agencies which are operating in the areas of fisheries and aquaculture, processing, fish feed production, packaging, shipbuilding and fishing equipment supply.

On Wednesday afternoon, Vietnamese Trade Counsellor Hoang Duc Nhuan had a working session with Vice President of the Chamber of Commerce and Industry of Oran (CCI Oran) Kehal Nacer and representatives from some CCI Oran member businesses.

During the meeting, the two sides informed each other of their potentials and strengths, while expressing their wish to further accelerate trade exchange and investment cooperation between the two countries in general and between Vietnam and Oran in particular.

On the occasion, Nhuan introduced and called on businesses of Algeria and Oran to participate in the upcoming international exhibitions to be held in Vietnam later this year and in 2020, such as Vietnam Expo and Vietnam Food Expo.

In particular, he asked the CCI Oran side to support the Vietnamese trade mission in Algeria in identifying some Oran firms who are eyeing to cooperate with Vietnamese partners, as well as in seeking potential companies to foster investment cooperation with Vietnamese enterprises in Algeria.

For his part, Kehal Nacer showed his interest in the international exhibitions in Vietnam, promising to organise Oran business delegations to take part in the events as well as to have working sessions with the Vietnam Chamber of Commerce and Industry (VCCI) to seek partners for investment cooperation and trade exchange.

According to Nhuan, Algeria and Vietnam signed a memorandum of understanding on fisheries and aquaculture cooperation in 2010. Currently, seafood is always among Vietnam’s top five exports to Algeria, with revenue of US$9-10 million per year.

As shown in Vietnam’s customs statistics, Vietnam exported US$135 million worth of goods to Algeria in the first nine months of 2019, with major exports including coffee, metal products, mobile phones, seafood, pepper, rice, garment & textile and footwear.