The new MoU between VCCI and CACI is expected to open a new chapter in economic and trade cooperation between Vietnam and Algeria.

VCCI President Ho Sy Hung and CACI President Tayeb Chebab sign the MoU witnessed in the presence of Prime Minister Pham Minh Chinh and Algerian Prime Minister Sifi Ghrieb

This agreement is considered a strategic step forward that opens a new phase in bilateral economic and trade relations, especially as Vietnam and Algeria have recently upgraded their relationship to a Strategic Partnership.
Under the MoU, VCCI and CACI will coordinate a range of trade promotion activities, including direct business to business matchmaking programs and information sharing on trade fairs and exhibitions in each country. This network of exchanges is expected to serve as a practical hotline to help companies from both sides identify partners, access market information, and address potential barriers to market entry.
VCCI expected the new mechanism to accelerate joint initiatives and deliver results that are concrete, timely, and aligned with the long-term interests of the business communities of both countries.

“Through this MoU, VCCI aims to elevate the economic partnership between Vietnam and Algeria to a higher level. Our strategic objectives include promoting bilateral trade, facilitating information exchange, and encouraging more diverse and sustainable investment cooperation models between the business communities of both nations,” emphasized VCCI President Ho Sy Hung.

Vietnam and Algeria have maintained a strong traditional relationship for decades, built on mutual trust and support across many areas. However, bilateral trade remains modest at nearly US$200 million, a small figure compared with the potential of two economies whose export structures are highly complementary. Of this total, Vietnam runs an almost complete trade surplus of approximately US$192.3 million, driven mainly by agricultural products, seafood, consumer goods, and electronic components. Algeria is considered a high potential market with strong import demand and a strategic position in North Africa, offering an advantageous gateway for Vietnamese goods to reach the broader West African region.

Vietnamese companies are currently focusing on export opportunities to Algeria in categories such as agricultural products including cashew nuts, coffee, pepper, and rice; processed seafood; electrical and electronic equipment; construction materials; consumer goods; textiles and footwear; logistics cooperation; Halal services; and solar energy.

Algerian companies are seeking to expand exports to Vietnam with products such as dates, olives, minerals, and fertilizers, while also exploring three-way cooperation in aquaculture and food production.
In the investment sector, the oil and gas project in Bir Seba led by the Petrovietnam Exploration Production Corporation (PVEP), with total investment exceeding US$1.26 billion, is regarded as one of Vietnam’s most successful overseas projects. Its success reflects mutual trust between the two countries and provides a foundation for future collaboration in energy, mining, infrastructure, and renewable energy.

VCCI President Ho Sy Hung said that VCCI is ready to help Algerian companies access the Vietnamese market and the broader ASEAN region. He also expressed hope that CACI will support Vietnamese companies in exploring new economic zones and opportunities in Algeria’s energy and mining sectors. Through Algeria, Vietnamese companies have the opportunity to expand into the North African and West African markets, regions rich in potential but still relatively untapped by Vietnamese businesses.

The MoU between VCCI and CACI came at a pivotal moment, as Vietnam and Algeria have entered a new phase in their relationship following the upgrade to the Strategic Partnership. The document is not only a cooperation agreement but also a joint affirmation of both sides’ commitment to expanding comprehensive economic cooperation and creating a strong bridge for the business communities of the two countries to maximize each market’s comparative advantages.

During the official visit to Algeria, Prime Minister Pham Minh Chinh also encouraged Vietnamese companies to prioritize investment cooperation in Algeria in energy, including oil and gas exploration, petroleum refining and petrochemicals, wind power development, and solar energy. He further recommended exploring investment opportunities in agriculture, aquaculture, agricultural and seafood processing, manufacturing, science, and technology, given Algeria’s advantageous geography, climate, natural resources, and strong investment potential.

With direct government support from both sides, as well as increasing interest from companies and the active roles of VCCI and CACI, Vietnam Algeria cooperation is expected to enter a phase of stronger, more substantive, and more sustainable growth in the coming years.

To enhance feasibility and ensure that cooperation intentions can be implemented effectively, the two sides have proposed establishing a joint working group. This mechanism has been included in the MoU between VCCI and CACI. The companies participating in the working group will serve as focal points to review objectives and translate them into concrete activities and project-based initiatives based on business needs.

The working group will take a proactive approach to identifying export products that can secure a competitive foothold in each market. It will promote trade diversification and facilitate increased commercial exchanges between the two countries. Algerian companies and investors in the working group will negotiate with Vietnamese partners to explore specific cooperation opportunities that will enable greater exports in both directions, particularly in technology, agriculture, digital transformation, energy, oil and gas, pharmaceuticals, and tourism development.

The working group will also help companies address challenges related to market procedures, regulations, logistics, tariffs, and other sector specific requirements, while offering policy recommendations to both governments to improve the business environment and enhance competitiveness.

The ability to translate business needs into concrete actions tailored to each company is expected to be a major step forward in turning the commitments in the VCCI CACI memorandum into practical results.

Several companies already have established relationships and are actively leveraging opportunities in the Algerian market, including the Petrovietnam Exploration Production Corporation (PVEP), ROX Group in oil and energy, and food and agricultural exporters Intimex JSC and Hanfimex JSC. VCCI hoped these companies will continue to play a pioneering role in sharing experiences with other Vietnamese firms seeking to enter the Algerian market.