Kingdom woos Algerian investors

RIYADH: Saudi Minister of Commerce and Investments Majid Al-Qassabi said there are several mutually beneficial trade and investment opportunities between his country and Algeria.
Al-Qassabi, who was leading the Saudi delegation at the 12th session of the Saudi-Algerian Joint Committee Meetings in Algeria, said the two countries should identify new areas of cooperation in trade and investment.
The Saudi-Algerian Joint Committee Meetings are aimed at discussing and developing economic, trade and investment cooperation, and boosting commercial ties and investment in various sectors.
The meeting was attended by representatives from government ministries and non-governmental organizations from both countries.
Al-Qassabi also met with Algerian Minister of Industry, Investment and Mines Abdul Salam Bushwarib, Minister of Public Works and Transport Boujema’a Tal’ei, and Energy Minister Noureddine Bouterfa.
Various topics were discussed, such as facilitating the issuance of entry visas for investors, boosting bilateral trade, investment opportunities in energy and future projects.
In November, Algerian Prime Minister Abdelmalek Sellal, who met King Salman in Riyadh, said Saudi and Algerian businessmen should work together to establish development projects that serve the economies of both countries, and support the existing friendship between the two leaderships and peoples.
The premier commended the excellent ties between the Kingdom and Algeria, and said his country is a dynamic market of 40 million consumers with modern infrastructure, and is attractive for foreign investors.
Ali Haddad, president of the Algerian Business Leaders Forum, said cooperation between the two countries has come a long way, particularly on the economic front, due to their close relations.
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.