Algeria, EU Hold Talks to Revise ‘Partnership Agreement’

Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
TT

Algeria, EU Hold Talks to Revise ‘Partnership Agreement’

Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)

Algeria and the European Union last week launched the first round of talks aimed at reviving their 20-year “Partnership Agreement.”

The talks were initiated at the request of Algiers.

The Delegation of the European Union to Algeria said on Friday that a delegation headed by Florian Ermacora, head of the North Africa Unit at the Directorate-General for Neighborhood and Enlargement Negotiations of the European Commission, paid a working visit to Algeria from January 27 to 30.

The delegation met with representatives of several Algerian ministerial departments, including Foreign Affairs, Energy and Mines, Water Resources, Industry, Trade and Finance. The European officials were also received at the Algerian Investment Promotion Agency (AAPI).

In addition to the EU Neighborhood department, the delegation included representatives from the EU departments for Energy, Home Affairs, Migration and Foreign Affairs.

Discussions focused on future cooperation between the EU and Algeria in the fields of investment, trade facilitation, renewable energy, migration, culture and job creation.

During the visit, Head of the North Africa Unit, EU Directorate-General for Neighborhood and Enlargement Negotiations Florian Ermacora reaffirmed the EU's willingness to give new impetus to cooperation between Algeria and the European Union in the context of the development of a new pact for the Mediterranean, the EU mission said.

It noted that the visit aims to hold consultations on cooperation between the European Union and Algeria for the period 2025-2027.

The new Agenda for the Mediterranean was launched by the European Union in 2021 to strengthen the strategic partnership with its Southern Neighborhood partners in trade and renewable energies, upgrading facilities and infrastructure, and managing migration and counter-terrorism issues.

The European delegation's visit was not announced by Algerian officials.

Also, the statement issued by the EU delegation did not mention whether talks with representatives of the Algerian ministries addressed the country’s request to revise its partnership agreement with the EU and to rebalance the mutual interests of the two parties.

In late 2024, ambassador of the EU in Algeria Diego Mellado Pascua said 2025 could be a very important year for both parties to consult on their mutual relations within a comprehensive framework.

Last June, the EU said it launched a dispute settlement case against Algeria and requested consultations with Algerian authorities to address several restrictions imposed on EU exports and investments.

“The EU considers that, by imposing these trade restrictive measures since 2021, Algeria is not respecting its trade liberalization commitments under the EU-Algeria Association Agreement,” it said in a statement.

The EU’s aim is to engage constructively with Algeria with a view to removing the restrictions on several market sectors, spanning from agricultural products to motor vehicles.

These include an import licensing system with the effects of an import ban, subsidies contingent on the use of local inputs for car manufacturers, and a cap on foreign ownership for companies importing goods in Algeria.

A European diplomat in Algeria, who declined to be named, told Asharq Al-Awsat that the EU is seeking to assess Algeria's prospects and the extent to which the agreement can be modified.

He said the statistical office of the European Union, Eurostat, confirms that Algeria's exports to the 27 Member States of the Union amounted to 18.747 billion euros and its imports from these countries were around 12.648 billion euros.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
TT

Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
TT

Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
TT

Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.