Algeria-Portugal cooperation: “Major” economic achievements (Joint Statement)

October 4th, 2018

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APS : Wednesday, 03 October 2018

ALGIERS-Algeria and Portugal highlighted Wednesday in Lisbon the “excellence” of bilateral cooperation relations and emphasized the “major achievements” made in the economic and commercial field.
During the 5th session of the Algeria-Portugal high level meeting, co-chaired by Prime Minister Ahmed Ouyahia and his Portuguese counterpart Antonio Costa, the two countries made a “comprehensive” assessment of their economic and trade relations, and stressed that, in addition to the “major” achievements made in this area, they have “a large untapped potential”, the meeting’s Joint Statement said.
The Algerian side informed the Portuguese officials of “the main measures contained in the Government’s programme aimed at diversifying the Algerian economy and rationalizing State expenditure”.
In this regard, the Algerian side stressed that “trade rationalization measures are general, non-discriminatory and temporary, and aim to address the country’s financial difficulties and establish the overall balance of the country’s finances while ensuring the continuation of development and economic growth programmes”.
Moreover, the Algerian side “encouraged” Portuguese companies to establish and invest in the Algerian market through partnership and joint venture operations that could contribute to increasing trade between the two countries.
The Portuguese side “expressed its appreciation for Algeria’s efforts to enhance its economic stability and diversify.”
It expressed its “keen interest” in actively participating in the process to diversify the Algerian economy and promote industrial partnership, notably in the areas of basic infrastructure, technological innovation, digital transformation and ICTs.
Algiers and Lisbon underlined the “leading” role of SMEs in the economic development process in each country and encouraged their economic operators, both public and private, to intensify contacts and multiply meeting spaces to build a mutually beneficial relationship of trust between both countries’ companies.