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Firms urged to boost trade with Algeria
Vietnamese businesses should increase imports from Algeria to help reduce the trade deficit between the two countries, said the Algerian Minister of Industry, Small and Medium-sized Enterprises and Investment Promotion Mohamed Benmeradi.
He delivered this message during the ninth session of the Viet Nam-Algeria Inter-Governmental Commission on Trade, Economic and Technological Co-operation, which concluded in Algiers on Monday.
Viet Nam exported US$120 million worth of goods to Algeria in 2010.
Though, economic relationships between the two nations had failed to reach potential, the minister said, Algeria was optimistic about prospects of bilateral co-operation as promoted during President Nguyen Minh Triet's official visit to Algeria in April last year.
Speaking highly of Viet Nam's achievements in agriculture and industry, the minister called on Vietnamese State-owed and private enterprises to increase their investment in Algeria, especially in engineering and electronics sectors.
In terms of trade, he said, Algeria could be a bridge to the vast African market and Viet Nam could in turn help Algerian companies effectively access the Southeast Asian market.
Vietnamese Minister of Construction Do Hong Quan said the two countries' ministries and sectors needed to further facilitate businesses in boosting trade co-operation and establishing partnerships or even expanding partnerships to a third country.
The three-day session witnessed a memorandum of understanding between Viet Nam's Ministry of Construction and Algeria's Ministry of Housing and Urban Development on matters of co-operation in state management, personnel training and encouraging co-operation between the two countries' construction businesses.
The two sides agreed to set up a joint committee to define necessary conditions to implement the memorandum.
During the session, the two ministers emphasised their determination to promote economic and trade co-operation between Viet Nam and Algeria based on the two countries' good political relations.
The session also included the Viet Nam-Algeria Business Conference with the participation of 40 enterprises involved in construction and construction material production.
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