Algerian Minister of Trade and Export Promotion Tayeb Zitouni said that his country and Saudi Arabia were seeking to accelerate mechanisms to enhance bilateral economic cooperation.
Zitouni - who is currently on an official visit to Riyadh at the invitation of his Saudi counterpart Dr. Majid Al-Qasabi - told Asharq Al-Awsat that Saudi-Algerian relations were now at their best on various levels, but suffered in the past due to lack of commercial and investment activity.
“The political leadership, under the direct guidance of President Abdelmadjid Tebboune, asked us to discuss the challenges and obstacles facing the launch of trade and investment between the two countries,” the Algerian minister said, adding that Algeria was witnessing a new renaissance that stimulates investments and development projects.
“We agreed to increase trade and investment in vital projects in the two countries, in addition to the adoption of many financing and legal measures,” he added.
Zitouni highlighted the signing of bilateral agreements between Saudi and Algerian businessmen, which he said herald a new era in the field of cooperation, investment and trade in the two countries.
Al-Qasabi met with Zitouni on Thursday at the headquarters of the General Authority for Foreign Trade, and stressed the importance of strengthening bilateral trade and investment relations and building partnerships with the private sector in, in addition to building strategic relations that serve the interests of the two countries.
The Saudi minister underlined the Kingdom’s keenness to enhance trade relations with Algeria through exchanging visits and holding commercial exhibitions that contribute to introducing opportunities and increasing Saudi exports.
He also pointed to the importance of facilitating the access of goods and services of to the two countries’ markets, by reducing customs restrictions that obstruct bilateral trade movement.
