Algeria-Turkey: Business Forum lays foundations for new era in bilateral economic relations

APS : Monday, 27 January 2020
ALGIERS- The Algerian-Turkish Business Forum, held Sunday in Algiers, was an opportunity for the two countries to affirm their determination to give a strong momentum to the relations between Algeria and Turkey and to lay the
foundations for a new era in the economic and commercial cooperation.
Speaking at the warp up of the Algerian-Turkish Business Forum, in the presence of Prime Minister Abdelaziz Djerad, President Recep Tayyip Erdogan said that this forum “lays the foundations for a new era in the economic relations between the two countries,” affirming that he has attached, since his election as Turkey’s president, a particular importance to the Algerian-Turkish relations.
He expressed his “pride for the growth in the volume of the Turkish investments in Algeria,” emphasizing his country’s determination to “continue its efforts to achieve further bilateral successes.”
While broaching trading which amounts to about USD4 billion, Turkish President said that this figure “even if it’s satisfactory, remains insufficient,” underlining that he “agreed with President of the Republic Abdelmadjid Tebboune to raise, soon, trading between the two countries to USD5 billion”.
In this respect, Erdogan called for the creation, “as soon as possible,” of a free trade area between Algeria and Turkey, announcing that several measures will be taken quickly for this purpose.
He also said that he discussed with President Tebboune the creation of a free trade area between the two countries, dubbing “necessary” to start negotiations about it shortly.
Turkish President affirmed that his country hopes to carry out important investments with Algeria, underlining that the two countries decided to hold a meeting of the joint economic cooperation committee which hadn’t met since 2002.
“Facilitating the movement of people between the two countries and the growing number of the granted visas will also allow raising the level of the bilateral cooperation,” he stressed.
“Unlike other countries, we do not consider Algeria as a market to sell our products but we hope to carry out important investments,” he said.
Underscoring that the investments of the Turkish companies in Algeria exceed USD3.5 billion, and which enabled the creation of 30,000 jobs, Erdogan said that there are 377 investment projects in Algeria.
“Algeria ranks third in terms of the presence of Turkish companies in the world,” he added.
Algeria is the most important access to the Arab Maghreb and Africa and Turkey relies on it for the success of the next Turkey-Africa Summit, said President Erdogan at the wrap up of the Algerian-Turkish Business Forum, in the presence of Prime Minister Abdelaziz Djerad.
Prime Minister Abdelaziz Djerad affirmed in his speech that the Algerian government will make sure to encourage the bilateral cooperation and to make from the investment and investors a solid basis in its cooperation with brotherly country Turkey.
In this regard, Djerad welcomed the “willingness of President Erdogan and Turkish companies to invest in Algeria and contribute to the economic development which we all aspire,” emphasizing “the Algerian government’s determination to encourage the cooperation by setting up partnerships and investments on a solid basis in the Algerian-Turkish relations.”
He called on the businessmen attending this forum to invest in Algeria’s priority sectors, saying he is convinced that these sectors “will attract the Turkish businessmen.”
Djerrad announced the opening of a big Algerian-Turkish workshop that will be devoted to the implementation of a “new framework” of the bilateral trade relations, as part of a mechanism likely to increase trading volume in the best interests of the two countries.
Prime Minister also affirmed that the talks between the two Presidents enabled “giving a boost to the bilateral relations and motivating the two countries’ businessmen to give a concrete expression to these relations by creating projects that contribute to the ongoing promotion of the cooperation between the two countries and their peoples.”

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