PM Nguyen Tan Dung speaks at the Vietnam-Algeria business dialogue (Photo: VNA)

(VOVworld) - Prime Minister Nguyen Tan Dung chaired a Vietnam-Algeria business dialogue in Algiers, which gathered nearly 300 enterprises from both countries on Sunday.

PM Dung said that Vietnam values the investment and trade cooperation potential with Algeria, expressing his belief that the dialogue will provide an opportunity to realize joint projects between the two countries in the future.

During the visit, PM Dung attended the inauguration ceremony of an oil-rig in preparation for the first oil flow of a joint project between the Vietnam National Oil and Gas Group (PetroVietnam) and Algeria’s SONATRACH Petroleum Corporation.

This is the first cooperation project between Vietnam and Algeria with a total investment capital of 1.2 billion USD. PM Dung said both countries have the potential to raise two-way trade turnover to 2 billion USD in the future.

PM Dung called on “businesses of both nations to learn more about each other and promote exports of Vietnamese staples such as farm produce, garment and textile, electronics, and pharmaceuticals to Algeria. Meanwhile Vietnamese firms should seek investment opportunities to import more Algerian oil and gas products. Through Algeria Vietnam hopes to access North African markets and Vietnam is ready to act as a key gateway for Algerian businesses to enter ASEAN member countries with a combined population of 600 million people and a total GDP of 2.5 trillion USD.”

PM Dung said the Vietnamese government will support and create more favourable conditions for firms of the two countries to realize cooperative opportunities and plans.