Algeria has become a potential market for agricultural products and food in Vietnam

Li Huangcai, deputy director of the Trade Promotion Bureau of the Ministry of industry and trade of Vietnam, said that Algeria is one of Vietnam’s top important partners in Africa. At present, the two countries are promoting relations in many fields such as economy, trade and investment.

In order to help enterprises explore this market, within the framework of the national trade promotion plan in 2022, the Trade Promotion Bureau of the Ministry of industry and trade and the Vietnamese commerce office in Algeria will jointly hold an export consultation meeting to the Algerian market on April 19. The event will be held in Ho Chi Minh City and on platforms such as zoom and the facebook fan group of the Trade Promotion Bureau.

At the consultation meeting, the experts and rapporteurs of the plan will guide enterprises to grasp and adopt Algeria’s import and export regulations, standards and conditions for some agricultural products and food, help enterprises and producers adopt and comply with them, and help Vietnamese enterprises resume production and promote exports.

Huang Derun, Vietnamese trade counsellor in Algeria, said that in recent years, Algeria advocated economic diversification, promoting exports and reducing imports. However, this is still a potential market for Vietnamese goods. It is worth noting that the Algerian market has a large import demand for Vietnamese advantageous products such as coffee, pepper, cashew nuts, aquatic products and beverages.

Although Algeria is a potential market for Vietnamese enterprises and an important gateway to increase investment and trade cooperation with African countries, the volume of bilateral trade between the two countries is still small.

According to the statistics of the General Administration of Customs of Vietnam, the bilateral trade volume between Vietnam and Afghanistan reached US $300 million in 2017, of which Vietnam’s exports to the country reached about US $281 million. In 2021, Vietnam’s exports to Algeria reached only US $153 million, of which the export volume and export volume of green coffee beans were 56545 tons and US $99.68 million respectively. In the first quarter of this year, Vietnam’s exports to Afghanistan reached US $306 billion, a decrease of 0.5% compared with the same period in 2021.

In particular, coffee accounts for 65% of Vietnam’s total exports to Algeria. In the future, Algeria will remain a potential export market for Vietnamese coffee, and coffee will also become the largest product exported by Vietnam to Afghanistan. Followed by rice. In addition, Algeria has a large demand for pepper, cinnamon and cashew nuts. Aquatic products have also become one of the five major products exported from Vietnam to Afghanistan, accounting for the largest proportion of Vietnam’s exports to the market.

However, Huang Derun said that when exporting products to the market, enterprises need to carefully understand the market and policies related to tariffs, labor laws and payment methods.

Source: Vietnam people’s daily

Post time: Apr-20-2022