NA Chairman Vuong Dinh Hue (R) and Algerian Minister of Industry and Pharmaceutical Production Ali Aoun at the meeting in Hanoi on October 18 (Photo: VNA)

Welcoming his guest to Vietnam to co-chair the 12th meeting of the Vietnam - Algeria Inter-governmental Committee in Hanoi on October 16 - 18, Hue highlighted the faithful friendship between the two countries over the last more than 60 years, since their diplomatic relations were set up in 1962. The connections between their Parties, parliaments, governments, and peoples are also being further reinforced.

He pointed out that bilateral trade remains modest, at 144 million USD in 2022 with Vietnam posting 141 million USD in trade surplus with Algeria. Given this, trade relations should be fostered, and enterprises and business associations of both countries have a critical role to play in this regard.

The NA Chairman also highly valued the success of the countries’ oil and gas joint venture, calling on Algeria to continue supporting the investment and operations of the Vietnam Oil and Gas Group (Petrovietnam) in the North African nation.

Minister Aoun shared the view that the most important thing at present is to develop bilateral economic, trade, and investment ties on par with the sound political and diplomatic relations.

Appreciating his host’s remark that Vietnam is ready to act as a gateway for Algeria to access the market with over 600 million people in ASEAN, he noted his country is also willing to help Vietnam enter the 300-million people market in North Africa, as well as Africa with a combined population of nearly 1 billion.

The official expressed his delight at the outcomes of the 12th meeting of the Vietnam - Algeria Inter-governmental Committee, part of efforts to bolster economic, trade, and investment cooperation after the COVID-19 pandemic, during which the two sides discussed the fields of extensive cooperation and identified cooperation potential in other areas.

Aoun also informed his host about the outcomes of his meeting with the Vietnamese Minister of Industry and Trade, noting that they looked into the orientations and targets for partnerships in manufacturing and supplying agricultural and industrial products, along with other goods for each other.

He said the two countries have moved in the right direction in oil and gas cooperation, and that Algeria pays attention to and will provide conditions for the Vietnamese business’s operations.

Besides, Algeria is home to various plants that can be used as medicine, and it hopes to work with Vietnam to produce pharmaceuticals for treating some diseases in Africa, the minister added.

Agreeing with his guest, Chairman Hue said the Vietnamese NA supports the two sides’ promotion of an agreement on industry and trade. It will actively coordinate with relevant parties to step up and supervise the implementation of the two countries’ cooperation documents.

He voiced his belief that with the long-standing friendship, sound political and diplomatic ties, and efforts by both sides, economic, trade, and investment links between Vietnam and Algeria will flourish in the time to come.