Algeria, Saudi Arabia to give fresh impetus to cooperation, open investment prospects

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Algeria and Saudi Arabia are planning to give a fresh impetus to bilateral cooperation and open investment prospects, with a view to raising the volume of trade, through partnership and investment projects agreed upon during intensive visits paid by senior officials from the two countries over the past few years.

 

The visit by Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, deputy chairman of the Council of Ministers and Defense Minister, on December 2-3, to Algeria, leading a high-level delegation composed of members of government, businessmen and eminent personalities, comes as part of the special relations between the two countries and in line with the common will of the leaders of both countries to expand their economic partnership.

The visit is expected to revive the different bilateral workshops created during the 13th Algerian-Saudi joint commission meeting, held in Riyadh last April, crowned by the signing of many cooperation agreements on investments, standardization and international relations.

Saudi Arabia wants to establish strategic investment partnerships with Algeria, in order to boost economic relations and raise the level of political relations between the two countries.

Algeria, for its part, has shown its willingness to cooperate with Riyadh in all economic fields, especially in industry, which has recorded a considerable progress over the past few years.

 

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