Algeria, Spain agree to raise economic partnership

APS : Wednesday, 04 April 2018
ALGIERS- Algeria and Spain agreed Tuesday on stepping up their economic and industrial partnership to the excellent level of the bilateral political ties, especial as they are neighbors and have “complementary economies.”
In the final declaration, issued at the end of President of Spanish Government Mariano Rajoy’s official visit to Algeria, the two countries decided to support their different institutions, and mainly Algeria’s Employers Forum (FCE), the Spanish Confederation of Employers’ Organization (CEOE) and the Algerian-Spanish Trade and Industry Circle” (CCIAE), by intensifying contacts and increasing meetings between the economic operators and businessmen of the two countries.
The two sides intend to “balance and boost trade and encourage the development of investments and mutually sustainable partnership in benefit of their companies,” the final declaration said.
Algeria said the imports measures it has taken to curb the impact of the sharp drop in export revenues are “general, non-discriminatory and provisional, meant to address an exceptional situation.”
The Spanish side said that those measures have seriously affected Spain’s exports to Algeria, wishing to give a substantial boost to trade between the two countries as soon as possible.
Assessing the current situation of bilateral trade, the two countries stressed the need to diversify it to match the potential of the two countries.
Algeria, in this respect, expressed a wish to establish fruitful partnership between the companies of the two countries.
It also underlined the significant importance of creating joint ventures in the two countries and promoting Spanish direct investment in Algeria.
Spain, for its part, said it encourages Algeria’s efforts to improve business climate and partnership.

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