A Turkiye-Algeria bilateral business meeting was held in Algeria with the support of the Ministry of Commerce.
The bilateral business negotiations meeting organized by the Turkish Exporters’ Assembly (TIM) and Uludag Exporters’ Association (UIB) was held in the capital Algeria.
At the meeting attended by Turkiye’s Ambassador to Algeria, Muhammet Mucahit Kucukyilmaz, hundreds of business people from Turkiye and Algeria will hold various meetings.
In his speech at the opening of the meeting, Ambassador Kucukyilmaz stated that an average of 500 exporters and investor companies come from Turkiye to Algeria annually and said, “We continue to receive very beneficial results from trade delegations, business forums, fairs and face-to-face meetings that come to life thanks to these.”
Recalling President Recep Tayyip Erdogan’s official visit to Algeria on November 21, Kucukyilmaz said, “We are working with all our strength to keep the political, economic, commercial, cultural and social relations between the two countries at the highest level.”
Pointing out that the impact of the Turkish and Algerian private sectors on the relations between the two countries is undeniably important, Kucukyilmaz said, “As our private sectors, you are gradually strengthening the bond of common destiny of the two countries with mutual trade and investments, and at the same time strengthening our political, social and cultural relations.”
Kucukyilmaz added that Turkiye will soon start negotiations for a Preferential Trade Agreement with Algeria in order to achieve its commercial and economic goals in a shorter time, thus removing some obstacles for exporters.
In his statement to AA correspondent, UIB Board Member Tuna Arinci stated that such organizations play an important role in ensuring that participants work together, and that the delegation from Turkiye included dozens of investors from various sectors, especially the automotive, textile and machinery industry.
Drawing attention to the goal of increasing the trade volume between Turkiye and Algeria to $10 billion, Arinci said, “Our aim is to reach the $10 billion trade volume, which was set as a target for us, in a short time, by holding mutual negotiations today, together with the Algerian participants of the companies we brought.”
Pointing out that Algeria has a great potential in terms of business, Arinci noted that the work done in Algeria can also spread to the whole of Africa through neighboring countries.
On the other hand, Muhammed Emin Butalbi, President of the Arab-African Investment and Development Center based in Algeria, pointed out that Algeria is very keen on strengthening the strategic partnership with Turkiye, he emphasized that there is a strong desire from Turkiye in this direction and that this is shaped by the intense investment made in Algeria.
Reminding that Algerian national oil and natural gas company Sonatrach made an investment worth $1.7 billion in Turkiye, Butalbi stated that the win-win model is for the benefit of the two countries and that this is a part of the strategic partnership.
Butalbi stated that the Algerian state provides a lot of convenience and incentives to foreign investors with the new investment law, and noted that this also constitutes an important opportunity for Turkish investors.
Source: AA / Prepared by Irem Yildiz