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AsemconnectVietnam – The 10th African Investment, Commerce Forum (AFIC10) took place in Algiers, Algeria, on May 4 and 5, bringing together about 800 delegates from 39 countries and territories.

 

 

The 10th African Investment, Commerce Forum (AFIC10) took place in Algiers, Algeria, on May 4 and 5, bringing together about 800 delegates from 39 countries and territories.
Held under the theme “Your Road to the African Market,” the forum, organised by the Arab-African Centre for Investment and Development (CAAID), highlighted the importance of implementing the African Continental Free Trade Agreement (AfCFTA) and fostering increased intra-regional trade.
The event facilitated hundreds of business-to-business meetings, fostering partnerships and collaboration among stakeholders seeking entry to the African market.
An accompanying exhibition showcased 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 products to potential African partners, such as coffee, pepper, cashew nuts, macadamia nuts, coconut rice, pharmaceuticals and handicrafts.
Vietnamese Commercial Counselor in Algeria Hoang Duc Nhuan said it is the fourth time Vietnam has joined the event with a view to understanding trade and investment policies across Africa.
According to Vietnam’s customs data, the export turnover between Vietnam and Africa increased by 31.7% in the first quarter of this year. The trade figure between Vietnam and Algeria reached 75 million USD, up 16% year on year./.

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Great potential for Vietnamese products at African Investment, Commerce Forum

Great potential for Vietnamese products at African Investment, Commerce Forum

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Numerous Vietnamese products were introduced to potential African partners, such as coffee, pepper, cashew nuts, macadamia nuts, coconut rice, pharmaceuticals and handicrafts at the 10th African Investment, Commerce Forum (AFIC10) held in Algiers, Algeria, on May 4 and May 5.
great potential for vietnamese products at african investment, commerce forum picture 1
At the forum’s opening ceremony

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%.

MARD determined to hit annual agriculture export target of $54bln

MARD determined to hit annual agriculture export target of $54bln

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Export of agriculture, forestry and fisheries products in the first nine months reached $38.5 billion.

Vietnam’s agricultural sector has set a target of earning $15.5 billion from exports over the final quarter of the year in order to fulfill its annual goal of $54 billion worth of agriculture, forestry and fishery exports.

Exports in the first nine months reached only $38.5 billion, down 5.1 per cent year-on-year, figures from the Ministry of Agriculture and Rural Development (MARD) show.

Asia remains the biggest export market, accounting for 48.6 per cent, followed by the US with 22.7 per cent and Europe with 10.8 per cent.

During the first nine months of the year, fruit and vegetables, rice, coffee, and cashews were among the key products posting impressive export revenue, of $4.2 billion, a year-on-year increase of 71.8 per cent; $3.66 billion and 40.4 per cent; $3.16 billion and 1.9 per cent; and $2.61 billion and 14.3 per cent, respectively.

MARD remains steadfast in reaching the targeted $54 billion, which is higher than the $53.2 billion recorded in 2022. However, in the current difficult context, this will be no easy task and requires determination, dynamism, and creativity from agricultural, forestry and fishery exporters to overcome the difficulties and challenges.

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