Vietnam, Algeria have potential for cooperation in trade, industry, energy

At a working session with Algerian Minister of Pharmaceutical Industry Ali A-un in Hanoi on October 17, Minister Dien highlighted that Algeria is the second largest trade partner of Vietnam in North Africa, with bilateral trade averaging over US$160 million a year in the 2018-2022 period.

To promote cooperation in trade, industry and energy, the Vietnamese minister asked the Algerian side to facilitate partnership between businesses operating in petrol, oil and gas business.

He particularly asked Algeria to facilitate the partnership between PetroVietnam Exploration Production Corporation (PVEP) and the national state-owned oil company of Algeria –Sonatrach in oil and gas projects in Algeria, and to amend Article 10 in the Vietnam-Algeria trade agreement.

Minister Ali A-un said he will work with the Vietnamese ministry and Algeria’s relevant agencies to consider the proposals of the Vietnamese side. He asked Vietnam to create favourable conditions for Algeria’s farm produce to access the Vietnamese market.

He expressed interest in bilateral cooperation in oil and gas and pledged to support Vietnamese oil and gas companies when investing in Algeria.