Algeria-Spain: Potentials of bilateral economic cooperation under-exploited

October 9th, 2020

APS : Thursday, 08 October 2020

ALGIERS – Head of the Spanish government Pedro Sanchez on Thursday in Algiers said that that the potentials of the bilateral economic cooperation were under-exploited, so there is need for bolstering partnership projects and trade.

In his address to the Algerian-Spanish business forum, Sanchez stressed that “the volume of investments and trade between the two countries is certainly important,” but does not reflect the potential of the two countries in the economic field.”
In this regard, he highlighted the opportunities to deepen and strengthen medium and long-term economic cooperation offered to the two countries, particularly in the sectors of energy, digital technology, agri-food industry, defence, environment, technology, engineering and consulting firms.

Sanchez also referred to the importance of stronger cooperation and partnerships in the fields of health, medicine and pharmacy, especially as several countries in the countries have been hit by the novel Coronavirus pandemic.

Spanish companies which stand out for their high level of competitiveness and their international reputation are able to contribute to the process of diversifying the Algerian economy, he added.

As for the economic changes that have taken place around the world, the Spanish premier expressed his country’s willingness to establish strong partnerships, devoting a new development approach based on cooperation and sharing.
“Algeria is a country on which Spain relies in its short and long term strategies, for its leading position in North Africa and in Africa,” he said.
In this regard, he insisted on the importance of Algeria-EU Association Agreement, as a guarantee of sustainable cooperation between the two countries.
Spain “understands the economic difficulties that Algeria is going through,” said Sanchez, expressing the readiness of his country to engage in constructive cooperation and dialogue between the two parties.