Swiss Judicial Cooperation Recovers $110 Million for Algeria
Algeria has successfully recovered over $110 million in illicitly transferred funds that were previously frozen in Switzerland. This significant achievement is the direct outcome of high-quality bilateral judicial cooperation and mutual judicial assistance between Algeria and Switzerland. The announcement was made by the President of the Council of the Nation, Mr. Azzouz Naceri, during his reception of the Ambassador of the Swiss Confederation to Algeria, Ms. Marion Waschl-Krobski.
During their meeting, President Naceri commended the strong bonds of friendship and mutual respect shared by the two nations. He highlighted Switzerland's historical support for Algeria during its glorious liberation revolution, which he noted has established a unique and esteemed legacy in their bilateral relations. Naceri also underscored the recent dynamism in Algerian-Swiss relations over the past two years, attributing this momentum to a shared commitment to enhancing political dialogue and revitalizing cooperation across various sectors, thereby opening up broader prospects for partnership.
Naceri expressed hope for continued and strengthened cooperation, particularly concerning international judicial requests and the restitution of illegally transferred national assets. Additionally, he drew attention to Algeria's economic vitality, fueled by reforms, an improved business environment, and major structural projects in areas such as rail transport, manufacturing, mining, renewable energies, and desalination. He suggested these transformations present promising opportunities for Swiss enterprises and emphasized the importance of establishing institutional mechanisms, such as an Algerian-Swiss business council, to support this direction. On the international front, Naceri highlighted the critical role of coordination and consultation between Algeria and Switzerland, recalling their shared experience as non-permanent members of the UN Security Council in 2024, especially regarding humanitarian issues and the protection of civilians.
