Viet Nam’s exports to Algeria increasing

Coffee remained the largest earner which saw a shipment of over 35,300 tons for about USD 76 million (up 12.8 percent), followed by telephones and spare parts valued at USD 58 million (up 5 percent). Rice came third with exports worth of over USD 10 million, jumping five-fold from the same period last year. Rice for exports to Algeria. (Photo for illustration) Algeria is now Vietnam’s second largest importer in Africa, after South Africa. Vietnam’s shipments to Algeria were estimated at USD 271.42 million in 2016, a year-on-year increase of 37 percent with most of the revenue also coming from coffee and rice. Last year, Vietnam’s trade office in Algeria organized an array of trade promotion activities, including five workshops on bilateral trade potential. It also assisted two delegations of Vietnamese businesses to attend international fairs and stepped up communication activities there such as publishing business news bulletins in French. The Ministry of Industry and Trade also sent staff members to Algeria to work with local ministries and agencies, seeking ways to boost cooperation in the time ahead. Vietnam-Algeria economic cooperation prospects are plentiful, with Algerian consumers familiar with Vietnamese goods, while Algerian animal feed, medicine and natural minerals are sold in Vietnam. In terms of investment, the Bir-Seba gas and oil joint venture between Petro Vietnam, Sonatrach (Algeria) and PTT (Thailand) became operational in 2015, producing 18,000 barrels each day. Source: VNA... [read more]

In the first quarter of 2014, official statistics show exports jumped 32% compared to the same period last year tallying US$67.89 million. Of the figure, coffee exports accounted for the lion’s share at US$30.97 million, and telephone and component exports trailed a distant second at US$18.51 million. Vietnamese major exports to Algeria are coffee, rice, pepper, coconut rice, and seafood. Due to the peculiarities of the market’s demand, there is a vast potential for Vietnam to also export such items as garment and textiles, footwear, wood, computers and components, construction materials, and electronics. Additionally, a number of Vietnamese commodities have a good prospect of penetrating the market, including steel and iron, fruits and vegetables, rubber, ships, footwear, and handicrafts. The Algerian Government is currently implementing programmes to attract investment in the processing industry, agriculture, and consumer goods production as part of an effort to boost the nation’s economy, diversify its industries and generate jobs. Furthermore, the Algerian government has expressed a keen interest in cooperating with Vietnam in investment, technological transfer, especially in the processing and manufacturing industry.... [read more]

Speaking before representatives from around 30 Vietnamese and Algerian businesses, the ambassador highlighted the potential for economic cooperation between the two nations, particularly in construction, agro-fishery product processing, consumer goods, pharmaceuticals and tourism. In the first 10 months this year, Vietnam earned nearly US$315 million from export to Algeria, including more than US$116 million worth of coffee and US$23.6 million worth of rice. However, Algeria’ exports to Vietnam stood at only US$702,000. Ambassador Vu The Hiep also urged both sides’ enterprises to further their cooperation in labour, as Algeria is expected to see high demand for skilled workers in construction, infrastructure and mining. Vietnam hopes to send between 1,500-2,000 skilled workers and technicians to the country by 2020, Hiep added. Commercial Counsellor Nguyen Van Mui briefed the participants on economic development and the international integration process in Vietnam, recent developments in Vietnam-Algeria economic, trade and investment partnership and its orientation in the coming time. Director of the Department of International Relation under the Algeria Chamber of Commerce and Industry (CACI) Belhoul Ouiahiba introduced Vietnamese businesses to investment opportunities in Algeria. She said Algeria hopes to benefit from Vietnam’s technology transfer through business joint ventures in different economic sectors, especially between small- and medium-sized enterprises. Participants proposed that the two Governments sign agreements on two-way trade, labour cooperation and investment as well as hold more trade and investment promotion activities to help their businesses find partners and opportunities.... [read more]

Following an official welcome ceremony chaired by Prime Minister Abdelmalek Sellal, the two Prime Ministers laid wreaths at the monument for fallen soldiers and visited the veterans’ museum in Algiers. PM Nguyen Tan Dung is scheduled to call at the Algeria International Fair and attend the Vietnam-Algeria business dialogue the same day. Algeria and Vietnam formed diplomatic ties on October 28, 1962. Vietnam opened an embassy in Algiers a month later, while Algeria set up its embassy in Hanoi in April 1968. Vietnam’s major currency earners in Algerian trade include coffee, rice, phones and spare parts. In the first quarter of this year, exports to Algeria rose by 1% compared to last year to US$68.6 million, including US$35.27 million from phones and spare parts, US$18.24 million from coffee and US$2.6 million from rice. Algeria is currently Vietnam’s third largest African importer. In terms of investment, the PetroVietnam is conducting oil exploration and exploitation missions in Algeria and is expected to start commercial operations this June. Nearly 1,200 Vietnamese workers work for contractors from Japan and China in the African country. The two countries have signed dozens of agreements and memoranda of understanding on economic, sci-tech, trade, maritime transport, health care and education cooperation.... [read more]

According to the latest statistics from the General Department of Vietnam Customs, exports to Algeria in the first ten months of this year increased by 8% to US$225.36 million, of which coffee made up US$98.4 million or 57,007 tons, up 81% in volume and 66% in value against the same period last year. Coffee is a favourable drink of the Algerian people. A person consumes around 3kg of coffee annually. Algeria imports around 130,000 tons of coffee worth US$300 million every year. The imported raw coffee is processed at Algerian factories according to the tastes of citizens. Robusta coffee makes up more than 85% of the total volume of imported coffee. Major coffee suppliers for Algeria are Vietnam, Ivory Coast, Indonesia, Brazil, Italy and Cameroon.... [read more]

VGP – Viet Nam has exported rice to 40 out of 78 markets in Africa, Western and Southern Asia, according to the Ministry of Industry and Trade. In comparison with the same period in 2014, the nation’s rice export turnover to nations in these three areas witnessed positive signs in terms of both quantity and value. Rice exports to Algeria, Angola, Ivory Coast and Ghana saw increases of 32%, 49%, 14% and 15% in quantity and 29%, 33%, 22% and 12% in value, respectively. The United Arab Emirates and Arab Saudi are two largest rice importers of Viet Nam in the Western Asia with an annual import turnover of around US$30 million. By Thuy Dung... [read more]

NDO – Vietnam’s rice exports to markets in Africa, West Asia and South Asia have shown signs of recovery in both volume and value compared with the same period in 2014 according to the Department of Africa, West Asia and South Asia Markets under the Ministry of Industry and Trade. However, average prices decreased due to competition with other major rice exporting countries. Statistics by the General Department of Customs show that the country's rice exports to most of the key markets in Africa bounced back again, as the Ebola epidemic has been under control, facilitating rice transactions to the West African region. Specifically, rice exports to Algeria rose by 32% in volume and 29% in turnover, to Angola by 49% in volume and 33% in turnover, to the Ivory Coast up 14% in volume and 22% in turnover, and to Ghana by 15% in volume and 12% of turnover. In West Asia, UAE and Saudi Arabia are the two largest import markets of Vietnamese rice. The two countries annually import approximately US$30 million in turnover of Vietnamese rice. Countries like Qatar, Jordan, and Syria each imports from US$3-5 million. Currently, Vietnam has exported rice to almost 40 out of 78 markets in Africa, West Asia, South and Asia, with a turnover accounting for 20% of the total value of rice shipped abroad. Vietnam has exported over 2 million tonnes of rice by the January-May period this year.... [read more]

... [read more]

VGP – PM Nguyen Tan Dung on May 29 left Ha Noi to attend an official signing ceremony of the Viet Nam-Eurasian Economic Union Free Trade Agreement (VN-EEU FTA) in Kazakhstan and pay official visits to Algeria, Portugal and Bulgaria from May 29-June 6. The visits are made at the invitation of his Kazakhstan, Algerian, Portuguese and Bulgarian counterparts - Karim Massimov, Abdelmalek Sellal, Pedro Passos Coelho and Boyko Metodiev Borisov, respectively. Viet Nam and the Customs Union (including Russia, Belarus and Kazakhstan) started their FTA negotiations since March 28, 2013. The two sides signed the Declaration to conclude the negotiations on December 15, 2014. Since January 1, 2015, the Customs Union has become the Eurasian Economic Union, which consists Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. After eight official negotiation rounds and a number of mid-term meetings, the VN-EEU FTA will be signed officially. The signing of the VN-EEU FTA will create an open and sustainable legal framework for the economic development between Viet Nam and members of the Union as well as promote the bilateral relations and exchange measures to officially launch the Agreement between Viet Nam and these nations. Viet Nam and Algeria set up their diplomatic relations in 1962. The two-way trade turnover in 2014 reached nearly US$250 million, which was mainly contributed from Viet Nam’s exports, according to the Ministry of Industry and Trade. In the first quarter of this year, Viet Nam gained nearly US$70 million from exporting to Algeria. Algeria is the third largest…... [read more]

Prime Minister Nguyen Tan Dung is leaving the country today and travelling until June 6. — VNA/VNS Photo Duc Tam HA NOI (VNS) — Prime Minister Nguyen Tan Dung will attend a signing ceremony for the Viet Nam – Eurasian Economic Union free trade agreement in Kazakhstan. Dung is leaving the country today and travelling until June 6. He will also visit Algeria, Portugal and Bulgaria at the invitation of his counterparts in the respective countries. With the visits Dung aims to promote new co-operative mechanisms and encourage more foreign companies to do business in Viet Nam. Viet Nam and Kazakhstan established diplomatic ties in 1992 and have supported each other at the UN and in other international forums. They have also recognised each other as market economies. They opened up opportunities for co-operation on oil and gas by signing several agreements between the Viet Nam National Oil and Gas Group (PetroVietnam), and the Kazakhstan National Oil and Gas Company. Negotiations on a free trade agreement between Viet Nam and the Eurasian Economic Union (EEU), of which Kazakhstan is a member, have been completed after eight rounds of discussion. The deal creates a legal framework and environment that fosters deeper economic ties. Algeria and Viet Nam first formed diplomatic ties in 1962. Viet Nam's major earners in Algerian trade include coffee, rice, phones and spare parts. In the first quarter, exports to Algeria rose 1 per cent over last year's US$68.6 million. In terms of investment, PetroVietnam is conducting oil…... [read more]




Links Topics : http://news.c10mt.com/2017/08/viet-nams-exports-to-algeria-increasing.html