Economics Affairs

Algeria, Saudi Arabia ink eight cooperation agreements

APS - 15 February 2017

ALGIERS- Eight memoranda of understanding (MoUs) and economic partnership agreements have been signed Wednesday in Algiers following an Algerian-Saudi business meeting, in the presence of Minister of Industry and Mines Abdeslam Bouchouareb and Saudi Minister of Trade Majid Bin Abdullah Al-Kassabi.

The agreements are relating to phosphate-processing industries, production of natural fertilizer, paper, pharmaceuticals, maintenance and tourist industry.

Three agreements have been signed for the development of the mining sector between Saudi holding company Radiola and Asmidal, a subsidiary of Algerian industrial mining group MANAL.

The first agreement concerns phosphate-processing industries, the second is about production of phosphate-based fertilizers, while the third agreement is relating to transformation of natural gas for the production of natural fertilizers.

A fourth agreement provides for a partnership between the Algerian company Tonic Emballage (Divindus Group) and Saudi firm El Sanoubar for paper industry.

The fifth agreement is about a project between Algerian drinks company, Ben Nafaa, and a Saudi counterpart.

The sixth agreement is relating to the creation of a joint venture specialized in maintenance and technical assistance for hotels and other tourist facilities.

It was signed between Algerian firm IRIS GS (electronics and household appliances) and Saudi company Morgan.

The seventh and eighth agreements are relating to the health field, as two MoUs have been signed between the Algerian medical diagnostics centre and Saudi firm Al Kasbi.

The first provides for a partnership in medical equipment and the second is related to the management of hospitals through IT solutions.