Plentiful room for cooperation between Vietnam and Africa

Sunday, 15/05/2022 09:41
A delegation of Vietnam led by Vietnamese Ambassador to Algeria Nguyen Thanh Vinh recently attended the 8th Edition of the Africa Forum of Investment and Commerce, which takes place in Algeria.

Ambassador Nguyen Thanh Vinh (first from the left) and some delegates at Vietnam's booth (Photo: baoquocte.vn)

The forum, which was organised by the Arab-African Center for Investment and Development (CAAID), connected 650 investors, leaders of regional and international organisations, experts, and representatives of commerce chambers from 35 countries.

According to the Vietnamese Ambassador, the embassy’s presence in the event is to meet and discuss with participating businesses and ambassadors about the potential for cooperation and investment in African countries as well as to introduce Vietnamese products.

Trade Counselor in Algeria Hoang Duc Nhuan said that Vietnam and African countries have a lot of potential for collaboration in trade and investment, in the context of the latter implementing the African Continental Free Trade Area (AfCFTA).

In 2021, trade between Vietnam and 55 African countries reached over 7 billion USD, with key Vietnamese exports to the region including industrial products, farm produce, and processed goods. Vietnam imported mainly production materials, liquefied petroleum gas, and copper from Africa.

More than 20 African countries have invested about 2.3 billion USD in Vietnam, while Vietnam has poured 3.5 billion USD in Algeria, Cameroon, Angola, Tanzania, and Mozambique, among others.

Within the framework of the forum, besides in-depth discussions on economic cooperation, the Vietnamese Embassy in Algeria held an booth in the common exhibition space.

Vietnam’s booth displays and introduces many Vietnamese products such as coffee, tea, rice, pepper, rice paper, kudzu flour, handicrafts and publications promoting culture, tourism and people of Vietnam to friends in African countries./.

BTA

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