Economics Affairs

Business climate in Algeria encourages investments, says Saudi Commerce Minister

APS - 15 February 2017

ALGIERS ? The business climate in Algeria encouraged investments,?Saudi Minister of Commerce and Investment Majid bin Abdullah Al Qasabi said Tuesday in Algiers,?calling upon Saudi operators to seize the opportunities for partnership with their Algerian counterparts, chiefly in the energy sectors.

"Many opportunities are offered to the bilateral cooperation. We have noticed a new model and an encouraging business climate which will be profitable for our partnership," said the Saudi official at his arrival to the Houari Boumediene international airport.

Qasabi, who is visiting to Algiers to participate on Thursday in the 12th session of the Algerian-Saudi Joint Commission, was greeted by Minister of Industry and Mines, Abdeslam Bouchouareb.

Al Qasabi said that several economic sectors interested the operator of both countries, namely the petrochemical industries, agriculture, pharmaceutical industries, maritime transport and tourism.

He hoped that joint projects would be selected in the meetings on those fields.

?Four partnership agreements between private companies of the two countries, notably in the fields of Medecine, tourism and export have been approved Tuesday by the Algerian- Saudi Business Council. ?The agreements are to be signed Thursday on the sidelines of the 12th joint commission.

Trade between Algeria and Saudi Arabia stood in 2016 at around $ 654 million.