Industry: Algeria, China sign draft agreement to strengthen bilateral partnership
APS : Sunday, 16 October 2016
ALGIERS- Algeria and China signed Sunday, in Algiers, a draft agreement to strengthen the partnership in the industrial field, allowing the creation of joint projects in several fields to attract Chinese investments to Algeria.
Entitled “Agreement to strengthen production capacities between Algeria and China,” this draft agreement was signed by Minister of Industry and Mining Abdessalem Bouchouareb and Chinese Vice Minister of Commerce Qian Keming who is on a visit to Algeria.
This “important” agreement aims at restructuring the joint economic relations currently based on trading and the agreements of public constructions and to orient them towards investment process and a joint production through the implementation of an executive framework and a basis of industrial and technological partnership between the two countries, said Bouchouareb in the signing ceremony.
This agreement is on manufacturing industry, exploitation of resources and energies (oil and gas), engineering industry, railway industry, steel industry, infrastructures, petrochemical industry, renewable energies, energy efficiency, processing of mining products, construction, household appliances as well as technical cooperation.
A follow-up committee was set up to monitor the examination of partnership and cooperation fields which constitute a priority for the two sides in the short term.
Through this agreement, Algeria and China will improve and modernize the production capacities of companies, notably the Algerian ones.