President Tebboune calls upon Turkish businessmen to increase investments in Algeria

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ALGIERS- President of the Republic, Abdelmadjid Tebboune, called upon, on Tuesday in Istanbul, Turkish businessmen to invest in Algeria in several fields, stressing that all fields are open within the framework of an integrated economy for the benefit of both sisterly countries.

In a speech delivered at the Algerian-Turkish Business and Investment Forum, which was held in Istanbul as part of his three-day state visit to Turkey at the invitation of his Turkish counterpart Recep Tayyip Erdogan, the President of the Republic affirmed that Algeria has all the financial, natural and human capabilities available to Turkish investors in order to raise the volume of investments.

In a related context, President Tebboune affirmed the two countries’ willingness to increase the Turkish investment volume in Algeria to more than USD10 billion.

During a press conference hosted jointly by President Tebboune with his Turkish counterpart, Recep Tayyip Erdogan, at the Presidential Complex in Ankara, President Tebboune indicated that the discussions were “rich and in-depth, during which we tackled the achievements resulting from our discussions two years ago in Algeria, during the visit of President Erdogan in 2020, following which numerous cooperation agreements have been been concluded”.

“One of the most important decisions taken by President Erdogan at the time was to increase Turkish investments in Algeria to almost 5 billion USD, and this has been achieved”, he recalled.

And to add: “we agreed to raise the volume of Turkish investments in Algeria to more than 10 billion Usd”.

The President of the Republic welcomed the “important steps taken by the two countries”, which, he said, “enrich our privileged historical relations and further strengthen the process of strategic partnership in all areas”.

Prior to the press conference, both Presidents Tebboune and Erdogan co-signed the Joint Declaration of the first meeting of the High Level Cooperation Council. Several cooperation agreements and memoranda of understanding in various fields have also been signed by the two countries.

President Tebboune arrived in Ankara on Sunday for a three-day state visit to Turkey at the invitation of his brother President Recep Tayyip Erdogan.

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