Talking to a Vietnam News Agency correspondent in Algeria, the expert stressed that the bilateral relationship is now at a turning point, presenting an opportunity for stronger and deeper development.
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Goumiri, a leading Algerian political and economic expert, in an interview granted to the Vietnam News Agency |
He noted that the two nations share a special foundation in their bilateral ties, one that not all country pairs possess, rooted in solidarity during their revolutionary struggles and strengthened over decades by political affinity, similar international perception, and mutual support at key moments in history. Both countries also attach importance to national independence, strategic autonomy, and diversified partnerships.
However, he said that this unique relationship has yet to match the two countries' potential, particularly in economy and trade. The two-way trade in recent years has hovered around 300–400 million USD, which the expert described as “quite modest compared to the population and market size, as well as production capabilities of the two sides.
The expert noted that the two countries’ product structures are highly complementary. Vietnam excels in high-quality agricultural products, textiles and footwear, electronics, construction materials, machinery, consumer goods, and digital and technical services. Algeria, meanwhile, has strengths in energy, fertilizers and chemicals, industrial raw materials, steel and metals, North African specialty foods, along with tourism, services, and transport.
These products can be traded directly between the two countries, and, if a stable supply chain is established, they could also serve as key materials for processing, manufacturing, and assembly industries, he said.
According to the expert, Vietnamese businesses are well positioned to operate direct investment projects or joint ventures in Algeria that is accelerating industrialization, diversifying its economy, and reducing its dependence on oil.
Goumiri emphasized Algeria’s large market, with rapidly growing demand for personal vehicles, commercial vehicles, and spare parts, and Vietnam's experience in operating efficient and cost-effective assembly models.
The pharmaceutical and chemical-drug sectors also offer significant opportunities, as Algeria seeks to develop its domestic pharmaceutical industry to reduce imports. With experience in building GMP-standard factories, Vietnamese companies could form joint ventures to produce generic medicines and medical equipment, he noted.
Goumiri also highlighted the potential for cooperation in agricultural processing and developing high-tech farming in desert regions, where Algeria’s vast Sahara and abundant groundwater provide favorable conditions for implementing hi-tech crop and livestock models, which Vietnam has strong expertise.
In the fields of information technology, digital transformation, and software solutions, the expert said Algeria views Vietnam as “an emerging technology model in Asia,” particularly in fintech, e-government, and cybersecurity.
Conversely, Algeria could expand its investments in Vietnam across energy, maritime transport, services, and trade sectors.
Despite the huge room for cooperation, the expert noted that the biggest barriers are not legal or procedural, but rather a lack of information, networking channels, and market-entry strategies.
Many Vietnamese products are well-suited to the Algerian market but fail to find partners simply because businesses don’t know how to start, he said, proposing establishing a Vietnam’s trade and investment center in Algeria, increasing the number of fairs and exhibitions for Vietnamese goods, and expanding the network of distribution agents in the African nation.
The expert noted that the lack of direct flights hinders trade, tourism, and investment, forcing businesspeople to transit through multiple stops at higher cost and longer travel time. He added that direct flights could double bilateral trade, boost tourist flows, allow more frequent business visits, speed up shipments of Vietnamese goods, and enable faster project implementation.
With its extensive port system, Algeria is an “ideal location” to establish distribution centers for Vietnamese goods across Africa, he said, stressing that if Vietnam sets up production facilities or warehouses in Algeria, products could be shipped to many countries within just one to three days.
The expert highlighted that global supply chain restructuring offers Vietnam and Algeria a chance to strengthen ties. With Vietnam’s growing influence in Asia and Algeria emerging as a North African economic and industrial hub, their cooperation not only complements economic interests but also expands strategic space, diversifies foreign relations, and enhances national autonomy.
Source: VNA