Algerian-German Business Forum: Algeria willing to establish economic alliance with Germany
APS - 21 February 2017
ALGIERS –Algeria is willing to establish economic alliance with Germany, in the region and in Africa, Minister of Industry and Mines Abdeslam Bouchouareb said Tuesday in Algiers at the opening of the Algerian-German Business Forum.
He also stressed the need for boosting the industrial and commercial relations between the two countries.
During the Forum held on the sidelines of the 6th Algeria-Germany Joint Committee chaired Parliamentary State Secretary to the federal ministry for Economic Affairs and Energy Uwe Karl Beckmeyer, Bouchouareb said that "the economic diversification we are striving for does not differentiate the principle of diversifying the partners, adding that Germany is a long-standing partner, notably in the industrial sector."
"Germany believed in the potentials of Algeria since independence and accompanied it in every stage of its evolution," the industry minister said, adding that the two counties today work to renew this partnership according to the requirement of the moment.
Algeria "relies on the investment capacities of the German companies,” Bouchouareb said.
While underlining the need for developing the industrial and commercial relations, the minister insisted on the "huge opportunities offered for the achievement of numerous joint projects."
Businessmen in both country has to be aware of the importance of those potentials and present the investment areas for the companies, with a view to boosting trade and foster the bilateral relations, added Bouchouareb
Algeria, which is today seeking to multiply investments that can lay the foundations for the national economy, considers that stronger relations between the two countries’ businessmen will allow achieving the investment projects.
Bouchouareb recalled the large-scale German projects engaged in Algeria, likewise "Volkswagen" plant which will be Africa’s biggest investment with a budget of $170 million in a first step.
He also added that the project is destined to the domestic market with a very high production rate.