Abu Dhabi – Mubasher: The UAE's Minister of Economy Sultan bin Saeed Al Mansouri met with Saleh Attiya, Ambassador of Algeria to the UAE, to discuss means of boosting economic and trade cooperation between the two countries, according to state-run news agency WAM.
Al Mansouri reiterated the UAE’s keenness to develop bilateral relations with Algeria for the benefit of the two countries and their peoples. He also commended the important role that the UAE-Algeria Joint Committee plays in advancing relations and exploring opportunities for cooperation in vital sectors.
Algeria is an important strategic partner of the UAE, with non-oil trade between the two countries rising from $423.9 million in 2013 to $ 493.2 million in 2014, a 14% year-on-year growth, said the minister.
He added that while the figures are certainly significant, there are several opportunities that still need to be leveraged to further accelerate bilateral trade and improve collaboration, especially with mutual agreements on trade, industry, agriculture, customs, taxes and securities.
Al Mansouri went on to note that there are several promising sectors that offer rewarding opportunities to boost joint investments, especially industry and renewable energy sectors. He added that being one of the largest producers of oil and gas, the UAE has also managed to emerge as a leader in renewable energy and is seeking to collaborate with other countries in this dynamic field.
Meanwhile, Ambassador Attiya commended the development of bilateral relations especially in the economic, trade and investment domains, saying that the UAE investments in Algeria include 17 major projects valued at AED22 billion. He added that future prospects of cooperation looked optimistic with both countries keen to augment bilateral relations.
He also confirmed Algeria’s interest in establishing investment partnerships with the UAE, saying that his country aimed to offer all necessary support to investors from the UAE.
