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Tuesday, April 23, 2024

14th Joint Committee meeting of UAE and Algeria held

(Algiers) – Sultan bin Saeed Al Mansouri, Minister of Economy, said that the bilateral and economic relations between the UAE and Algeria are based on strong foundations of brotherhood and mutual respect, supported by their historical and cultural ties.

He added that the cooperation between the two countries has witnessed ongoing overall developments, especially in the areas of the economy, commerce and investment while highlighting their joint stances on many regional issues. He also stressed the importance of promoting future cooperation and dialogue, to serve their aspirations, achieve development, and address regional and international challenges, especially those related to politics, the economy and development.

He made this statement while meeting with Ahmed Oyahiya, Prime Minister of Algeria, in the Algerian capital, Algiers, on the sidelines of the “14th Joint Committee between the UAE and Algeria.”

Al Mansouri highlighted the importance of continuing and developing the cooperation between the two countries through the outcomes and recommendations of the committee, which is a key platform for advancing their coordination, exploring mutual investment opportunities, and discussing the challenges facing both sides, with the aim of creating commercial and investment partnerships.

He also noted the economic sectors that have promising cooperation potentials, such as energy, renewable energy, tourism, hospitality, transportation, civil aviation, metal industries, petrochemicals, food products, agriculture and logistical services.

Al Mansouri affirmed that the UAE is looking forward to Algeria’s participation in the Expo Dubai 2020, especially with regards to transportation, which is a sector that Algeria specialises in.

The total value of foreign trade between the UAE and Algeria amounted to US$596 million in 2017 while Emirati investments in Algeria accounted for over $10 billion in various sectors, including energy, real estate, tourism, healthcare, pharmaceuticals, iron and steel.

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