RIYADH: Algerian Prime Minister Abdelmalek Sellal, who met Custodian of the Two Holy Mosques King Salman in the morning, on Wednesday called for enhanced bilateral trade during a meeting with Saudi businessmen in Riyadh.
The visiting premier handed two messages from President Abdelaziz Bouteflika of Algeria to King Salman during his audience with the king.
The king held a session of official talks with Sellal, during which they reviewed bilateral relations, ways of enhancing them in various fields and the latest regional and international events.
On Tuesday, the premier held talks with Commerce and Investment Minister Majid Al-Qassabi, Deputy Foreign Minister Nizar Al-Madani, and Labor and Social Development Minister Mufrej Al-Haqabani.
The Saudi-Algerian businessmen’s meeting, which was hosted by President of the Council of Saudi Chambers Hamdan Al-Samreen, was also attended by Al-Qassabi.
During the businessmen’s meeting, the premier said that Saudi and Algerian businessmen should work together for the establishment of development projects that serve the economies of both countries, and support the existing friendship between the two leaderships and the peoples.
The premier also commended the excellent relationships between the Kingdom and Algeria, which are witnessing continuous developments, and hoped that his current visit would boost trade and investment in various sectors.
Sellal also told Saudi entrepreneurs that Algeria is a dynamic market of 40 million consumers, coupled with modern infrastructure which is an attractive destination for foreign investors.
Al-Samreen praised Saudi-Algerian relations, especially in the economic and trade sectors, and stressed the eagerness of Saudi businessmen to develop and expand these ties continuously by pumping in new investments, and opening new horizons for bilateral trade and joint investments.
Explaining the progress of bilateral trade relations, Al-Samreen said that the volume of trade has been increased to $573 million from $95 million in 2006.
He said that there is no direct maritime route for shipping of goods between the two countries. Therefore, he called for the relaunch of the Saudi Company for Algerian Maritime Transport, and the establishment of a Saudi Algerian bank to finance intra-investment projects.
Algerian Minister of Industry and Mining Abdulsalam Bushawarib expressed his country’s desire to create more partnership projects with Saudi Arabia, which will boost economic ties between the two countries. He said the Algerian government has put in place a series of measures and reforms to improve the economic system, including the new investment law that contains a number of guarantees and incentives provided for under the constitution, and the freedom to resort to international arbitration.
He pointed out that during the period from 2002 to 2016, a total of 16 new investment projects have been registered within the framework of the Saudi-Algerian partnership in the fields of pharmaceuticals, food products, cement, electricity and tourism, among others.
President of the Algerian Business Leaders Forum Ali Haddad noted that cooperation and coordination between the two countries have come a long way, particularly on the economic front, due to a solid base of close relations between Saudi Arabia and Algeria. He expressed interest in seeking partnerships in several sectors, and highlighted Algeria’s distinguished position as a gateway to Europe and Africa, in addition to its dynamic market. He encouraged both sides to overcome obstacles that hinder bilateral trade and provide a convenient environment to increase trade and investments.
The visiting premier handed two messages from President Abdelaziz Bouteflika of Algeria to King Salman during his audience with the king.
The king held a session of official talks with Sellal, during which they reviewed bilateral relations, ways of enhancing them in various fields and the latest regional and international events.
On Tuesday, the premier held talks with Commerce and Investment Minister Majid Al-Qassabi, Deputy Foreign Minister Nizar Al-Madani, and Labor and Social Development Minister Mufrej Al-Haqabani.
The Saudi-Algerian businessmen’s meeting, which was hosted by President of the Council of Saudi Chambers Hamdan Al-Samreen, was also attended by Al-Qassabi.
During the businessmen’s meeting, the premier said that Saudi and Algerian businessmen should work together for the establishment of development projects that serve the economies of both countries, and support the existing friendship between the two leaderships and the peoples.
The premier also commended the excellent relationships between the Kingdom and Algeria, which are witnessing continuous developments, and hoped that his current visit would boost trade and investment in various sectors.
Sellal also told Saudi entrepreneurs that Algeria is a dynamic market of 40 million consumers, coupled with modern infrastructure which is an attractive destination for foreign investors.
Al-Samreen praised Saudi-Algerian relations, especially in the economic and trade sectors, and stressed the eagerness of Saudi businessmen to develop and expand these ties continuously by pumping in new investments, and opening new horizons for bilateral trade and joint investments.
Explaining the progress of bilateral trade relations, Al-Samreen said that the volume of trade has been increased to $573 million from $95 million in 2006.
He said that there is no direct maritime route for shipping of goods between the two countries. Therefore, he called for the relaunch of the Saudi Company for Algerian Maritime Transport, and the establishment of a Saudi Algerian bank to finance intra-investment projects.
Algerian Minister of Industry and Mining Abdulsalam Bushawarib expressed his country’s desire to create more partnership projects with Saudi Arabia, which will boost economic ties between the two countries. He said the Algerian government has put in place a series of measures and reforms to improve the economic system, including the new investment law that contains a number of guarantees and incentives provided for under the constitution, and the freedom to resort to international arbitration.
He pointed out that during the period from 2002 to 2016, a total of 16 new investment projects have been registered within the framework of the Saudi-Algerian partnership in the fields of pharmaceuticals, food products, cement, electricity and tourism, among others.
President of the Algerian Business Leaders Forum Ali Haddad noted that cooperation and coordination between the two countries have come a long way, particularly on the economic front, due to a solid base of close relations between Saudi Arabia and Algeria. He expressed interest in seeking partnerships in several sectors, and highlighted Algeria’s distinguished position as a gateway to Europe and Africa, in addition to its dynamic market. He encouraged both sides to overcome obstacles that hinder bilateral trade and provide a convenient environment to increase trade and investments.
