Algeria highlights in Washington progress achieved in business climate improvement

March 14th, 2016

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APS : Saturday, 12 March 2016

WASHINGTON-The 4th session of Algeria-US discussion on the Trade and Investment Framework Agreement (TIFA)
has been an opportunity to highlight the progress achieved in the improvement of the business climate in Algeria, Secretary General of the Ministry of Industry and Mines Rabea Kharfi stressed.
“The meeting enables the Algerian party to discuss the implementation of reforms relating to the business climate and the measures provided by the Finance Acts of 2015 and 2016 regarding the business climate improvement,” Kharfi told APS after these discussions devoted to the TIFA.
The Algerian party clarified some issues while recalling the guidelines of the new investment law,” she added.
“We told our US partners that the code shall strengthen rules securing the foreign direct investments (FDIs) and provide investors with further visibility,” Kharfi affirmed.
The Algerian party also seized this opportunity to explain the upcoming new program for the improvement of land offer while presenting “other promising sectors able to ensure diversification of economy that became keyword of the government’s economic program,” she stressed.
“We expressed our wish that the American party understands the achieved progress and the Algerian government’s commitment to implementing these reforms as the FDIs remain an important instrument to boost national economy,” the same official stated.
The American officials, she added, expressed their satisfaction with the permanent dialogue in the fields of trade and investment.
Kharfi also said that the Algerian delegation answered to the requests of some US companies regarding the last investment measures meant to reframe the foreign trade, mainly those relating to car imports.
“We explained to these companies that the car import license was meant to stabilize and regulate this import area that was untidy, put an end to overbilling and reinforce mandatory security devices and equipment” on new cars.