Great potential for Vietnamese products at African Investment, Commerce Forum

The forum running the theme ‘Your Road to the African Market’ was organized by the Arab-African Centre for Investment and Development (CAAID), featuring the participation of roughly 800 delegates from 39 countries and territories globally.

The event underscored the importance of realizing the African Continental Free Trade Agreement (AfCFTA) and fostering increased intra-regional trade, and facilitated hundreds of business-to-business meetings, while strengthening partnerships and collaboration among stakeholders seeking entry to the African market.

An accompanying exhibition displayed diverse sectors, including export, trade, agriculture, food processing, tourism, services, technology and digital transformation. Additionally, sectors like energy, construction, public administration, healthcare, pharmaceuticals, investment, finance, transportation, and environment were represented.

The Vietnamese Embassy and the Vietnam Trade Office in Algeria collaborated to set up a booth showcasing various Vietnamese.

Visiting the Vietnamese booth and trying out products, the forum participants highly appreciated the quality of Vietnamese goods, while some business representatives expressed their desire to connect with Vietnamese businesses to exchange expertise, and identify potential and opportunities for future cooperation.

Vietnamese Commercial Counselor in Algeria Hoang Duc Nhuan said it is the fourth time Vietnam has participated in the event with a view to get better understanding of trade and investment policies across Africa.

This is viewed as a good opportunity for Vietnamese businesses and goods to take advantage of investment incentives to make deeper inroad into this market, he added.

Despite facing very difficult global situation, Vietnam's trade turnover with Africa last year reached a high growth rate of 5.7%.

According to Vietnam's customs data, the export turnover between Vietnam and Africa surged by 31.7% in the first quarter of this year, with their import and export turnover hitting US$75 million, posting a year- on-year rise of 16%.

Source: VOV