Minister of Foreign Affairs and National Community Abroad Ahmed Attaf met, at the end of his working visit he paid to Washington, tasked by the President of the Republic Abdelmadjid Tebboune, with American economic operators and businessmen, as well as members of the Algerian-US Business Council.
The minister made, during this meeting, a detailed presentation on the economic dynamic that Algeria is experiencing, as part of the promising reforms initiated by the President of the Republic, reviewing the development indicators reached by our country in the past few years, which show a significant improvement in the economic and financial situation of our country.
The minister tackled the main lines of Algeria’s ambitious policy in terms of encouraging and attracting foreign investments, pointing out notably the new legal arsenal adopted in various fields, such as the hydrocarbons, investments as well as currency and credit, and citing other regulations able to strengthen the business climate and attract foreign investments, reforms welcomed by the American administration in a report published on 26 July 2023.
In addition to the efforts made by the Algerian government and its commitment to promoting a business-friendly environment, Attaf affirmed that Algeria will offer excellent advantages in view of its geostrategic localization making it an entrance gate to neighboring markets in Africa, and also in Europe and the Arab world.
These advantages, he said, were exploited and strengthened through free-trade agreements concluded by our country and African EU and the Arab world.
In this regard, he underlined the big structural projects launched by Algeria to consolidate the infrastructures linking it to neighboring countries, like ports and railway lines, in addition to the promotion of road, sea and air transport services.
In his speech, the minister dealt with the history of the economic partnership between Algeria and the United States, affirming that it proved to be a real success-story over the past forty years.
Since the partnership between the two countries is mainly based on the field of energy which attracts 90% of the American investments, Attaf affirmed that the Algerian-American cooperation in this regard looks promising, in view of the natural gas reserves and the huge renewable energy potentials that Algeria possesses, on one hand, and because the US represents a technological and economic power on the other hand.
The minister stressed the necessity of opening up new bilateral cooperation prospects, notably in the exploitation of resources that our country possesses, like steel, zinc, phosphate and other rare resources.
In this regard, he affirmed that the sector of agriculture constitutes an opportunity which isn’t exploited yet by the investors, notably in the South of the country, especially as the Algerian State will ensure 3 million hectares for any large-scale investment, calling on the American businessmen to invest in modern farming techniques, irrigation systems, agribusiness infrastructures and data and health technologies.
Attaf affirmed that investing in Algeria means investing in a promising future, in a country which ensures all the conditions of success, as a reliable partner.
