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Qatari, Algerian traders call for robust ties to boost trade

June 23, 2022

Algerian and Qatari businessmen have stressed the need to strengthen partnerships between companies in Algeria and Qatar, especially in strategic areas, and to boost the volume of trade exchange.

This was raised during the second meeting of the Algerian-Qatari Business Council held recently in Algiers in the presence of Qatari Businessmen Association (QBA) Chairman HE Sheikh Faisal bin Qassim al-Thani, Algerian-Qatari Business Council president Kamal Mulla, Algerian Chamber of Commerce and Industry president Tayeb Shabab, and Qatar’s ambassador to Algeria Abdulaziz Ali al-Nama.
The meeting, which aims to develop trade and economic relations and discuss ways to boost Qatari investments in Algeria in various economic sectors, was also attended by QBA member Sheikh Mohamed bin Faisal al-Thani, Mohamed Moataz al-Khayat, and Sheikh Nayef bin Eid al-Thani, a member of the Qatari Hotels Association, as well as a number of Algerian businessmen.
In his speech, Mulla spoke about government reforms, particularly in the economic and financial sectors, aimed at creating a stable business climate and encouraging local and foreign investment.
“Following a meeting of our two governments, both sides discussed the real and different opportunities that both countries offer to enhance joint cooperation. It is the responsibility of the business council and Qatari and Algerian companies to work together to strengthen partnerships and increase the volume of trade exchange,” Mulla said.
Mulla highlighted the importance of the new Algerian Investment Bill, saying it provides the right conditions that guarantee long-term stability for the development of the economy and attract investors.
He also stressed the need to overcome the challenges in food, health, and water security, in addition to challenges in the energy sector and the need to utilise other resources, such as solar energy.
On sectors that could provide opportunities for investment, Mulla said the development of water management is a priority for agriculture in the desert to improve irrigation in agricultural cooperatives, especially those that develop strategic intensive crops, such as grains, animal food, and corn. He also said the pharmaceutical industry requires huge investments to meet the needs of the local and neighbouring African markets.
Meanwhile, Sheikh Faisal highlighted the distinguished relations between the two countries, expressing his aspiration to develop partnerships with Algerian businessmen in the tourism and agriculture sectors to achieve self-sufficiency in basic crops like wheat.
“All factors are ready here to enhance cooperation and we are willing to establish partnerships and all suggestions are welcomed,” Sheikh Faisal said.
For his part, Chabab said the Algerian side is keen to establish real and sustainable partnerships with Qatari partners in all areas. He also called on Qatari businessmen to discover investment opportunities in Algeria, especially in strategic areas, such as agriculture, desert agriculture, reconstruction, tourism, and solar energy.
Al-Nama said: “The meeting opens the way for more investment in Algeria. Qatari-Algerian relations are taking firm steps towards a better future. We look forward to a promising future in all sectors, especially investments.”
The QBA delegation also held a meeting with Algerian Minister of Trade Kamal Reziq and discussed areas of cooperation in different fields, including agriculture, tourism, and the commercial sector.
Reziq noted that the Algerian market is eager to attract investments, citing a shopping centre with international standards. He said: “There are ambitious programmes in oil and sugar to achieve local self-sufficiency and also exporting to the African market.”
Citing Algeria’s new investment law, the minister said he considers it “the best law in the history of Algeria,” which will be published in two months. He said the law will divide FDI into four types of investment and includes several incentives, such as not changing the law within 10 years at least for economic stability and to attract foreign investors. The sectors will include industrial, agricultural, tourist, and service investments.
Sheikh Faisal said Algeria has the necessary infrastructure for investment in all sectors, adding that the meetings with the Prime Minister and all officials confirm that the Algerian government places the issue of food security “as an absolute priority.”
He also praised the encouragement the Qatari side received from Algerian President Abdelmadjid Tebboune, as well as the new investment law. “Businessmen of the two countries have a major role in securing the needs of Qatar and Algeria, especially agricultural production and establishing partnerships with Algerians to reduce imports,” HE Sheikh Faisal said.
The Qatari-Algerian Business Council held a dinner in honour of the QBA delegation. Discussions continued about small and medium-sized enterprises (SMEs) in the fields of health, agriculture, tourism, real estate, solar energy, and other productive sectors.