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Investment opportunities at centre of first Algeria-UAE business forum


ABU DHABI (UAE) – The first Algerian-Emirati Business Forum, to be held Sunday in Abu Dhabi to is set to examine the investment and partnership opportunities between the two countries between the two countries.

This meeting, which follows the recommendations of the 13th meeting of the High Joint Committee held in November 2015 in Dubai, will be co-chaired by Minister of Industry and Mines Abdessalam Bouchouareb and Emirati Minister for Economy Sultan Bin Saeed al Mansouri.

Bouchouareb will be accompanied by a strong delegation of managers of public and private companies, executives of his ministry as well as delegates of economic bodies like the Algerian Chamber of Commerce and Industry (CACI) and the National Agency for Development and Investment (ANDI).

At the 13th session of the High Joint Commission, the two countries have expressed their determination to strengthen bilateral cooperation, especially in investment and economic partnership.

The two parties also agreed to develop an inter-sectoral action plan of cooperation focusing on the trade sector.

However, Algeria ambitions to establish an economic relation based on productive investment, by attracting more Emirati investments as part of the government’s policy for economic diversification.

The economic relations between Algeria and the UAE remain dominated by the commercial aspect and specific economic transactions, i.e. the achievement of projects for limited duration as for real estate or management contracts, while the UAE direct investments are still below the potential of Algeria.

Currently, some UAE companies are operating in Algeria like Dubai Ports World (DP World) in the port sector, Mubadala in the oil sector, Aabar investments (Abu Dhabi investment fund) in investment and Al Qudra Holding and Emaar in real estate.

APS Saturday, 16 April 2016 

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