The Algerian diplomat said in a recent media interview on the occasion of the 60th anniversary of both nations’ diplomatic relations between (1962- 2022).
Vietnam recognized the Provisional Government of the Republic of Algeria on September 26, 1958, just a week after Algeria proclaimed its establishment.
Diplomatic relations established in 1962 were later extended to the areas of economic, technical and financial cooperation.
However, the COVID-19 pandemic over the past two years has negatively impacted the exchange of visits and trade between the two countries.
Therefore, the organization of the 12th meeting of the Joint Committee in Hanoi in December 2022 amid the weakening of the COVID-19 pandemic will create fresh impetus for bilateral relations.
According to the ambassador, the organization of the third meeting of political consultation between the two foreign ministries in Hanoi from May 26-27, 2022 is seen as a good start for the 60th anniversary of diplomatic ties between Algeria and Vietnam.
The Algerian Embassy in Hanoi is set to launch a broad range of cultural activities to celebrate this major political event.
Regarding bilateral economic and trade relations, Ambassador Boubazine Abdelhamid said that the relations are not commensurate with political ties as well as the two nations’ potential.
Trade turnover between Algeria and Vietnam reached US$262.54 million in 2021, with the North African nation’s imports amounting to US$ 231.57 million and its exports to Vietnam standing only US$ 30.97 million.
In order to reduce the trade balance deficit between the two countries, Algeria and Vietnam are making efforts to encourage Vietnamese enterprises to become more involved in exploring the Algerian market to buy products, especially agricultural products (dates, olive oil), minerals (fertilizers and soil enrichment products), gas (liquefied petroleum gas) and other raw materials.
In addition, it is necessary to renew the legal framework of Algeria-Vietnam cooperation because among the many bilateral cooperation agreements at the Government level, some areas need to be further updated, especially the Mutual Agreement on Investment Protection.
Algeria's new law on investment is also one of the favorable factors for the renewal process of these agreements.
On this occasion, Ambassador Boubazine Abdelhamid highly appreciated the socio-economic achievements that Vietnam has recorded in recent years.From a country lacking food, Vietnam today not only ensures domestic food security, but also rises to become a leading exporter of rice and agricultural products in the world.
Not only having obtained many outstanding achievements in the field of agriculture, Vietnam's industry has also marked its sustainable development.
Vietnam is one of the most open economies in the world today with about 70 bilateral and multilateral trade agreements signed.
The volume of import and export goods in 2021 reached a record of US$668.5 billion. Exports remain the strength of the Vietnamese economy, helping to contribute to the growth of gross domestic product (GDP). Registered foreign direct investment capital hit US$395 billion USD.
These positive figures continuously affirm that Vietnam is on the right path of prosperous development and will continue to make great progress over the years to become a developed country as expected.
As a foreign diplomat in Vietnam, Ambassador Boubazine Abdelhamid said he loves this country very much and emphasized that Vietnam is an example of a successful combination of tradition and modernity.