Minister Kortel Engages Africa’s Automotive Investment Leaders

Algeria's Minister of Industry, Farid Kortel, participated in the African Investment Forum for the Automotive Sector held in New Alamein City, Egypt, on Friday. The Ministry announced the Minister's involvement in this significant event, which aims to encourage industrial development and attract investment within the automotive sector across the continent. Algeria's active presence at the forum underscores its dedication to advancing industrial capacities throughout Africa.

On the sidelines of the forum, Minister Kortel held a series of bilateral meetings with key Egyptian officials. These discussions included engagements with Egyptian Foreign Affairs Minister Badr Abdel Aaty, Industry Minister Khaled Hashem, and Investment and Foreign Trade Minister Mohamed Farid Saleh. Further demonstrating Algeria's proactive engagement, Minister Kortel also met with Tarik Ismail Massad, President of Hyundai for the Middle East and North Africa region, to explore potential collaborations.

The forum, organized by the African Export-Import Bank (Afreximbank) in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, convened under the theme of "Unlocking the Potential of the African Automotive Industry under the AfCFTA agreement." It brought together a diverse group of participants, including policymakers, investors, financiers, original equipment manufacturers, component manufacturers, and project sponsors. Algeria's participation among these influential stakeholders reinforces its strategic commitment to fostering economic growth and industrial integration across the African continent.