(VOVWORLD) -The Vietnamese Trade Office and Embassy in Algeria co-organized a display of Vietnamese products exported to African countries, as a side event of the 10th African Investment and Commerce Forum 2024 (AFIC10) last weekend in Algiers, the capital of Algeria.
 The 10th African Investment and Commerce Forum 2024 (Photo: Vietnam's Ministry of Industry and Trade) |
On display were coffee, peppers, cashews, macadamias, coconuts, pharmaceuticals, handicrafts, and fine art. Visitors praised the quality of the Vietnamese products and some business representatives wanted to connect with Vietnamese businesses to seek cooperation opportunities.
Trade Counselor to Algeria Hoang Duc Nhuan said this is the 4th time Vietnam has participated in the African Investment and Commerce Forum.
“Our participation in the 10th African Trade and Investment Forum is a concrete step of implementing the African Continental Free Trade Agreement. This is a chance for Vietnamese businesses and goods to take advantage of investment incentives to penetrate the African market. We should consider direct investment in the market, which has a large population, political stability, and stable material resources,” Nhuan said.
 Participants visit the display of Vietnamese products. (Photo: Vietnam's Ministry of Industry and Trade) |
Trade revenue between Vietnam and Africa totaled 5.8 billion USD last year, up 5.7% from 2022. In the first quarter of 2024 Vietnam’s trade revenue with Africa increased 31.7%. Vietnamese businesses can expand investment in industry, food, tourism, services, electronics, digital transformation, energy, agriculture, and health.
Mr. Nhuan said: “Agricultural cooperation between Vietnam and African countries is developing strongly and has received support from many countries and international organizations. The productivity of agriculture and animal husbandry in Africa has greatly improved.”
At the just-concluded forum, the Vietnamese Trade Office held an exchange with businesses in Algeria and other African countries to forge connections and introduce Vietnam’s export staples.