Algeria-Spain: Signature of Five Partnership Agreements

April 16th, 2013

Algeria and Spain signed five memorandums of understanding on industrial partnership through Algerian and Spanish enterprises at a bilateral business forum held in Algiers on April 15, 2013.

The signature ceremony was chaired by the Minister of Industry, Cherif Rahmani, and his Spanish counterpart José Manuel Soria Lopez. The agreements cover a number of sectors, including building and public works, the chemical and mechanical industries, and engineering.

A shareholders’ agreement was signed to set up and run an Algerian – Spanish joint venture which is to manufacture 200 to 300 units of 5-25 ton road machinery at the Ain Smara plant in Constantine (430 km east from Algiers).

Minister Rahmani did not fail to point out that Algeria aims to develop several production sectors such as metallurgy, steel, building materials, manufacturing, and food-processing industry.

The Algerian minister stated further that Algeria-Spain partnership is based on the transfer of know-how to enable Algeria to acquire the technology needed for the manufacturing of industrial equipment and in particular road machinery for use in the major investment projects that have been launched throughout the country such as highways, railways, and dams.

It should be recalled that Algeria and Spain have been bound by a treaty of friendship since 2002 and maintain close economic ties, notably in the energy sector.