Overview of the meeting between Minister of Industry and Trade of Vietnam Nguyen Hong Dien and Ali Aoun, Algerian minister of Industry and Pharmaceutical Production.

At the headquarter of the Ministry of Industry and Trade, Minister Nguyen Hong Dien on October 17 met with Ali Aoun, Algerian minister of Industry and Pharmaceutical Production on his visit to attend the 12th meeting of the Vietnam-Algeria Inter-Governmental Committee chaired by the Ministry of Construction.

Minister of Industry and Trade of Vietnam Nguyen Hong Dien. Photo: tapchicongthuong

At the meeting, Minister Nguyen Hong Dien said that despite the impact of the Covid-19 pandemic, trade exchange between the two countries reached an average of over US$160 million in the period 2018-2022.

Minister Nguyen Hong Dien emphasized that Algeria is currently Vietnam's second-largest trading partner in the North African region (after Egypt).

He believed that the two countries still have a lot of potential to promote bilateral trade, as well as cooperative activities in other fields such as industry, oil, gas and energy.

In order to promote trade, industry and energy cooperation between the two countries, Minister Nguyen Hong Dien proposed that the two sides continue to coordinate closely to strengthen economic, trade and energy cooperation activities between the two countries.

He asked the Algerian side to support and create favorable conditions for cooperative activities between the petroleum and gas businesses of the two countries.

In particular, the Minister requested Algeria to create favorable conditions for Vietnam's Petroleum Exploration and Production Corporation (PVEP) to continue joint ventures with the Algerian National Oil and Gas Company (Sonatrach) to utilize, and operate oil and gas projects in Algeria.

Nguyen Hong Dien proposed that Algeria amend Article 10 of the Trade Agreement between the two countries.

Ali Aoun, Algerian minister of Industry and Pharmaceutical Production. Photo: tapchicongthuong

Appreciating Minister Nguyen Hong Dien's proposals, Algerian Minister of Industry and Pharmaceutical Production Ali Aoun said he will coordinate closely with the Ministry of Industry and Trade of Vietnam and domestic agencies to consider the proposals that the Vietnamese side stated.

Minister of Industry and Pharmaceutical Production affirmed that Algeria attaches importance to promoting economic and trade cooperation with Vietnam.

He asked the Vietnamese side to create favorable conditions for some of Algeria's strong agricultural products such as tea and olives to be able to access the Vietnamese market.

Regarding cooperation in the oil and gas sector, Minister Ali Aoun expressed his interest in oil and gas cooperation between the two countries. He said he would support Vietnamese oil and gas enterprises to invest in Algeria.

Minister of Industry and Trade of Vietnam Nguyen Hong Dien and Ali Aoun, Algerian Minister of Industry and Pharmaceutical Production. Photo: tapchicongthuong

Minister Nguyen Hong Dien said that agencies of the two countries will continue to exchange and discuss to create conditions for strong products to access each other's markets, contributing to promoting trade turnover growth.

At the end of the meeting, Minister Nguyen Hong Dien sent best wishes to the 12th meeting of the Vietnam-Algeria Inter-Governmental Committee led by the Minister of Construction of Vietnam and the Algerian Minister of Industry and Pharmaceutical Production.

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