Algeria and Egypt boast a robust economic history marked by exemplary cooperation and successful partnerships across diverse sectors, including energy, trade, and investment. This was highlighted by the Algerian Prime Minister during a recent summit in Cairo.
Over the past few years, both nations have achieved significant milestones in economic and commercial domains, fostering numerous impactful joint investment projects. These ventures span crucial sectors such as energy, petrochemicals – notably the nitrogen fertilizer plant in Oran, western Algeria – electrical cables in Ain Defla, and the pharmaceutical industry in Algiers.
Beyond these key areas, successful and promising collaborations extend to construction, public works, services, and agriculture, signifying a broad and deepening economic relationship.
Speaking at the inauguration of the ninth session of the Algerian-Egyptian Joint High Committee on Cooperation in Cairo, the Prime Minister emphasized that several companies have already commenced exporting products from Algeria. He noted that Egypt has become one of Algeria’s largest economic partners in trade and investment.
The energy sector, in all its facets, has emerged as a central pillar of Algerian-Egyptian cooperation. Recent agreements, such as the protocol between Sonatrach and Petrojet to establish a joint venture for manufacturing gas and oil equipment and developing the Hassi Bir Rekaiz field in Algeria, underscore this commitment.
The Prime Minister emphasized the need to amplify the positive outcomes of the partnership, particularly in light of Algeria’s new investment law, which provides essential facilities and incentives to foster an attractive environment for direct investment. This law aims to significantly increase investment inflows.
Both Algeria and Egypt have taken significant strides in building exemplary and strong relations, driving aspirations for enhanced cooperation and partnership. The Prime Minister also lauded the second session of the Algerian-Egyptian Business Council in Cairo, advocating for deeper collaboration between investment bodies and chambers of commerce and industry in both countries to encourage cross-border investments.
