Vietnam a priority in Algeria’s economic development policies
Vietnam is always a priority in Algeria’s policy of developing economic-trade relations in Southeast Asia, Algerian Minister of Trade Mohamed Benmeradi said while receiving Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan on November 14.
At a meeting between Algerian Minister of Trade Mohamed Benmeradi and Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan (Source Vietnamese Embassy in Algeria)
Algiers (VNA) – Vietnam is always apriority in Algeria’s policy of developing economic-trade relations inSoutheast Asia, Algerian Minister of Trade Mohamed Benmeradi said whilereceiving Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade CounselorHoang Duc Nhuan on November 14.
Benmeradi said Algeria wants to elevate bilateraltrade ties to the same level as their sound political relations.
He added that Algeria is diversifying its economy toavoid dependence on oil and gas. In 2018, the Algerian government will considerremoving its wood import ban.
To promote bilateral trade, the two sides agreed tocontinue improving legal frameworks, re-negotiate a bilateral free tradeagreement (inked in 1994), and facilitate businesses’ operations.
They decided to increase trade promotion activities,enable enterprises to partake in trade events in their respective countries,and inform each other about changes in new policies and trade measures.
Vietnam and Algeria also agreed to set up cooperativeties in the banking sector and build a coordination mechanism to helpbusinesses address trade disputes.
The aforesaid plans will be debated at theinter-governmental committee’s meeting, scheduled to take place in Algiers laterthis month.
Ambassador Tru said Vietnam exported 241 million USDworth of goods to Algeria in the first ten months of 2017, a year-on-year riseof 6.8 percent.
According to the General Department of VietnamCustoms, two-way trade increased 17 percent to reach 273.6 million USD in 2016,with Vietnam exporting 271 million USD worth of goods.-VNA
Vietnam’s exports to Algeria continued to grow by 29 percent year-on-year to 208 million USD in the first seven months of 2017 after rising by 37 percent in the first half of the year.
Over 50 local enterprises in tourism, and palm, rice, beverage, building materials and machinery production and business attended a conference for Vietnam-Algeria trade and investment promotion in Biskra province on October 5.
Vietnam’s aquaculture, fishery industry and seafood are on display at the seventh International Exhibition of Fishing and Aquaculture (SIPA 2017) which is underway in Oran, Algeria from November 9-12.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
At a meeting between Algerian Minister of Trade Mohamed Benmeradi and Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan (Source Vietnamese Embassy in Algeria)
