Algeria, Kuwait agree to support development projects in African countries
APS : Wednesday, 23 February 2022
KUWAIT- Algeria and Kuwait agreed Wednesday to support development projects in the African countries, notably in the Sahel-Saharan region, thanks to cooperation between the Kuwait Fund for Arab Economic Development
and the Algerian Agency of International Cooperation for Solidarity and Development.
“The two sides, driven by the mutual interest given to peace and development issues, notably in Africa and the promotion of Arab-Africa partnership , agreed to establish cooperation and coordination between the Kuwaiti Fund for Arab Economic Development and the Algerian Agency of International Cooperation for Solidarity and Development in terms of supporting development projects in the African countries, notably in the Sahel-Saharan region,” according to the joint Declaration that culminated the two-day official visit of President of the Republic Abdelmadjid Tebboune to Kuwait.
In this respect, the Algerian and Kuwaiti sides stressed the necessity of giving further momentum to the bilateral cooperation in all the fields, given the qualitative development achieved by the two countries’ economies and the huge potentials and opportunities that must be exploited to serve the interests of the two brotherly countries.
The two sides also affirmed their determination to “work for the strengthening of the fraternal relations and enable them to reach new horizons reflecting their depth and to implement appropriate mechanisms and agreements in line with this willingness and which enshrine the political consultation and coordination and encourage direct investment in the private and public sectors.”
It was also agreed to urge the economic operators to seize the offered investment opportunities in the two countries, while tasking the two governments to take the appropriate measures to provide the necessary support and create the appropriate climate for the success of investment operations.
The two sides agreed to strengthen the investment opportunities and exchange experiences in the field of hydrocarbons.