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11th Algerian-Emirati Joint Commission: Several cooperation agreements signed

ALGIERS- Several cooperation agreements relating to trade and air and sea transport have been signed Monday in Abu Dhabi, the United Arab Emirates (UAE) at the end of the 11th session of Algerian-Emirati Joint Commission, said a Finance Ministry’s release.

The two sides signed a memorandum of understanding (MoU) on administrative procedures relating to double taxation avoidance agreement, signed on 24 April 2001, a cooperation agreement on air transport, an agreement on sea transport and ports, according to the release.

MoU on the creation of a follow-up committee on investments was also signed at the end of the session, which was co-chaired by Finance Minister Karim Djoudi, and UAE Minister of Economy Sultan bin Saeed Al Mansouri.

Djoudi called on the follow-up committee on investments to hold its first meeting by the end of May, the release said.

He also announced the visit of a delegation of an Algerian business, led by Minister of Industry, SMEs and Investment Promotion Cherif Rahmani, to UAE from 20 to 22 May.

This delegation will establish partnerships with Emirati businessmen, said Djoudi.

Speaking at a press conference at the end of the 11th session of Algerian-Emirati Joint Commission, Djoudi said that owing to its economic and financial situation as well as its geographical location, Algeria offers huge investment opportunities.

For his part, Al Mansouri expressed the great interest showed by his country in Algeria, as a recipient country of Emirati investments.

(APS) Monday 13 May 2013

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