Saudi Arabia seeks to boost economic relations with Algeria

APS : Wednesday, 16 November 2016
RIYADH- President of the Council of Saudi Chambers of Commerce Dr. Hamdan bin Abdullah Al-Samrain voiced on Wednesday his country’s willingness to improve its economic relations with Algeria, through the promotion mutually beneficial projects.
Speaking at the Algerian and Saudi Economic Operators Forum, Al-Samrain reaffirmed Saudi Arabia’s firm determination to permanently strengthen and widen the economic relations between the two countries through the development of investments to open up new prospects for trade.
For the Saudi official, the Algerian-Saudi business council must be a genuine channel of cooperation in various vital economic fields and an effective tool for monitoring the execution of cooperation projects between the two countries.
He stressed the importance of this meeting he dubbed a space for considering the opportunities for trade cooperation and investment. The conditions allow the removal of obstacles that have hampered investments between the two parties and the achievement of joint projects in the fields of health, education, vocational training, agriculture, tourism, crafts, mining, maritime and air transport, housing, banking and customs, he said.
He hoped that the two previous projects on the creation of the Algerian-Saudi maritime transport company and the Algerian-Saudi Bank for the funding of joint investment projects will be relaunched.
The economic relations are making steady progress despite a slow pace, said Al-Samrain, recalling that the volume of trade has increased over the past ten years from $95 million to $573 million.

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