Date: Thursday, December 5, 2024
Category: Economy
The Algerian-South African Economic Forum concluded in Algiers on Thursday with a significant agreement to host an exhibition of Algerian products in Johannesburg during the first quarter of 2025. This initiative aims to bolster trade exchanges and foster partnerships between the two nations’ economic players.
In the forum’s closing statement, read by Rabah Fassi, Director of Promotion and Support for Initiatives at the Ministry of Foreign Affairs, it was announced that both sides agreed on several activities to promote Algerian products in South Africa. Chief among these is the national products expo planned for early 2025.
Additionally, both countries committed to participating in major economic and investment events, including the Algiers International Fair and the 4th Intra-African Trade Fair, scheduled to take place in Algeria from September 4 to 10, 2025.
The second edition of the Algerian-South African Economic Forum is set to be held in Johannesburg next year. Alongside this event, a joint Business Council meeting will also be organized.
The forum highlighted the mutual goal of exchanging expertise across various economic sectors. The closing statement emphasized the shared ambition of Algeria and South Africa to establish a sustainable, diverse, and mutually beneficial economic partnership, aligned with their vision for a prosperous Africa.
Forum Highlights
Over 300 entrepreneurs and economic operators from sectors such as agriculture, automotive, pharmaceuticals, chemicals, energy, renewable energy, mining, tourism, and ICT participated in the forum.
Speakers praised the business climates in both countries, which provide promising opportunities for economic collaboration, particularly within the framework of the African Continental Free Trade Area (AfCFTA).
The forum included presentations on investment climates in both nations. The Algerian Investment Promotion Agency highlighted Algeria’s incentives for foreign investors, while the South African delegation showcased opportunities within their economy.
Samir Djeradji, Acting Director of Foreign Trade at the Algerian Ministry of Trade, acknowledged that current trade volumes between Algeria and South Africa do not reflect the depth of their bilateral ties, calling for intensified efforts to expand these exchanges.
This event coincided with South African President Cyril Ramaphosa’s state visit to Algeria, symbolizing the strategic partnership between the two nations.
The forum was chaired by Algeria’s Minister of Foreign Trade and Export Promotion, Mohamed Bouchareb, alongside South Africa’s Minister of Trade, Industry, and Competition, Ebrahim Patel. Attendees included Major General Abdelhafid Bakhoush, Director General of Customs, and numerous economic stakeholders.
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Author: Nor-Eleslam
Keyphrase: Algerian-South African Economic Forum, trade partnerships, Algerian products expo, bilateral relations
