2023-08-10 19:45:34
ALGIERS- The Minister of Foreign Affairs and the National Community Abroad, Ahmed Attaf met, at the end of his working visit to Washington, instructed by the President of the Republic, Mr. Abdelmadjid Tebboune, to economic operators as well as American businessmen, members of the Algerian-American Business Council, indicates a press release from the ministry.
On this occasion, the Minister presented, before the participants in this meeting, a detailed presentation on the economic dynamics that Algeria is experiencing, within the framework of the promising reforms initiated by the President of the Republic, reviewing the development indicators achieved by our country in recent years, “which testify to a marked improvement in the economic and financial situation of our country”, notes the same source.
The Minister also referred to “the main axes of Algeria’s ambitious policy in terms of encouraging and attracting foreign investment”, recalling in particular “the new legal arsenal adopted in several areas, such as hydrocarbons, , or money and credit”, and citing other regulations “capable of strengthening the business climate and attracting foreign investment, reforms welcomed by the American administration in a report published on July 26, 2023 “.
In addition to the efforts made by the Algerian government and its commitment to promoting a favorable business climate, Mr. Attaf affirmed that “Algeria will offer excellent advantages due to its geostrategic location which makes it an open portal to neighboring markets. in Africa, but also in Europe and the Arab world,” the statement read.
These advantages, he continued, “have been harnessed and sustained through free trade agreements our country has concluded with Africa, the EU and the Arab world.”
In the same context, he recalled “the major structuring projects launched by Algeria to strengthen the infrastructure linking it to neighboring countries, such as ports and railway lines, in addition to the promotion of road transport services, sea and air”.
Algerian-American partnership: a real success story and the best is yet to come
In his speech, the Minister referred to the history of the economic partnership uniting Algeria and the United States, affirming that it was “a real success story over the past forty years”.
As the partnership between the two countries is mainly focused on the field of energy, which attracts 90% of American investments, Mr. Attaf affirmed that “Algerian-American cooperation in this area looks promising, given the gas reserves nature and the enormous potential in terms of renewable energies that Algeria has, on the one hand, and the fact that the United States represents a technological and economic power, on the other hand”, according to the same source.
The Minister also stressed “the imperative to open up new prospects for bilateral cooperation, particularly with regard to the exploitation of the resources available to our country, such as steel, zinc, phosphate and other scarce resources”.
In this context, he affirmed that the Agriculture sector constituted “an opportunity not yet exploited for investors, particularly in the South of the country, especially since the Algerian State intends to ensure 3 million hectares for any investment scale,” calling on American businessmen to “invest in modern agricultural techniques, irrigation systems, agribusiness infrastructure, and data and health technologies.”
Finally, Mr. Attaf affirmed that “investing in Algeria is synonymous with a promising future in a country which provides all the conditions for success, in its capacity as a reliable partner”, the statement concludes.
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