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
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