14th Algerian-Emirati Joint Committee: Aspirations to raise value of investments to nearly $ 20 billion

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Algeria and United Arab Emirates “UAE” will ink several agreements of cooperation, during the 14th Algerian-Emirati Joint Committee, due to be held on 17 – 18 September in Algiers, with a view to further boost Algerian-Emirati relations.

This session will expand cooperation in various areas and assess economic relations between the two countries.

Foreign Minister Abdelkader Messahel and UAE Minister of Economy Soltan Ben Said El Mansouri will co-chair, on Monday, the work of the 14th session, which will examine the opportunities for intensification and enlargement of bilateral relations.


Algeria and the UAE aim to raise the value of their investments to nearly $ 20 billion over the medium term, officials of both countries say.

The officials from both countries expressed their willingness to further boost export opportunities for both countries , especially since Algeria may be a bridge to Africa and Europe for the UAE and the UAE may be a bridge to the Asian markets for Algeria.

 

More than 200 Algerian companies are activating in the UAE in several sectors, such as; services, real estate, commerce, transport, and logistics, while more than 15 Emirati companies are operating in Algeria, according to the latest figures provided at the 13th session of the Algerian-Emirati High Joint Commission, held in Abu Dhabi in 2016.

Emirati companies are interested in several industrial sectors, mainly the mechanical industry, subcontracting in the automotive sector, renewable energies and the pharmaceutical industry.

Businessmen from both countries share the same point of view of their respective governments and work together to achieve win-win projects.

 

 

APS

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