UAE, Algeria keen to step up investments

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UAE, Algeria keen to step up investments

UAE, Algeria keen to step up investments

(Abu Dhabi) – Sultan bin Saeed Al Mansouri, Minister of Economy, discussed ways to boost economic and trade cooperation with Saleh Attya, Ambassador of Algeria to the UAE.
Held in the Ministry of Economy’s offices in Abu Dhabi, the meeting was attended by Jamal Al Jarwan, secretary-general, UAE Companies Investing Abroad Council, and Tareq Al Marzooqi, director of government communication at the Ministry of Economy.
Al Mansouri confirmed the UAE’s keenness to develop bilateral relations with Algeria for the benefit of the two countries and their people. The minister commended the important role played by the UAE-Algeria joint committee in advancing relations and exploring opportunities for cooperation in vital sectors.
The joint committee recently concluded a meeting in Abu Dhabi that was headed by Shaikh Abdullah bin Zayed Al Nahyan, Foreign Minister. Attended by a number of senior officials, the meeting witnessed the signing of several landmark memorandums of understanding between the two countries.
Al Mansouri said Algeria is an important strategic partner for the UAE. Non-oil trade between the two rose from $423.9 million in 2013 to $493.2 million in 2014 – marking a 14 per cent year-on-year growth. He added that while the numbers were significant, there were several opportunities that could be leveraged to accelerate bilateral trade and improve collaboration – especially with mutual agreements on trade, industry, agriculture, customs, taxes and securities.

The minister highlighted the important role of the private sector in bolstering bilateral relations by facilitating collaborations between business communities in the UAE and Algeria.
(Courtesy WAM)

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