Qatar-Algeria Business Meeting Discussed Strengthening Partnerships between Two Countries

Doha: HE Undersecretary of the Ministry of Commerce and Industry Mohamed bin Hassan Al Malki emphasized the strength of Qatari-Algerian relations at various levels, pointing in this context to the cooperation agreements that bring the two countries together and to the group of distinguished investments that have succeeded in enhancing bilateral cooperation between the two parties. This came in press statements on the sidelines of the Qatar-Algeria Business Meeting, organized by the Qatar Chamber (QC) in cooperation with the Algerian Chamber of Commerce and Industry, and attended by HE Minister of Trade and Export Promotion of the Republic of Algeria Tayeb Zitouni. The QC side was led by HE Second Vice Chairman Rashid bin Hamad Al Athba, along with a number of businesspersons. Al Malki added that the governments of both Qatar and Algeria support this development achieved at the commercial and investment levels and are working to direct Qatari businesspersons as well as their counterparts in Algeria to establ ish new companies capable of supporting the positive results achieved so far and moving them forward. For his part, HE Minister of Trade and Export Promotion of the Republic of Algeria Tayeb Zitouni said that this meeting reflects the qualitative development in Qatari-Algerian relations under the guidance of the leadership of the two brotherly countries. He pointed out that Algeria looks forward to a solid and fruitful partnership with Qatar, which will lead to an increase in trade. He affirmed that the holding of the first Algerian Products Exhibition in Doha, with the participation of 150 Algerian companies, would enhance cooperation between Qatari and Algerian companies. HE the Minister of Trade and Export Promotion of the Republic of Algeria called on Qatari investors to explore Algeria's evolving investment environment, noting that about 11 major Qatari companies have significant investments in Algeria. The meeting addressed ways to enhance economic and commercial relations between the two fraternal countries, as well as the investment climate and opportunities available on both sides. In turn, HE QC Second Vice Chairman Rashid bin Hamad Al Athba said that Qatar and Algeria enjoy well-established and distinguished fraternal relations, noting that these relations have seen remarkable development in recent years across various fields, especially in the economy, trade, industry, energy, and technology. He pointed out that the two countries have made great strides in developing their cooperation through mutual visits and the signing of memoranda of understanding and cooperation agreements. He added that their trade exchange has doubled in three years, reaching QR 297 million in 2023, compared to QR 132 million in 2020, emphasizing the private sectors key role in enhancing trade and economic cooperation between the two countries. Al Athba called on the Qatari and Algerian private sectors to establish new alliances and partnerships across various economic sectors, affirming that the QC encourages Qatari inv estors to explore opportunities in Algeria and form partnerships with their Algerian counterparts. For his part, President of the Algerian Economic Renewal Council Kamal Mouly said that Qatar and Algeria have historical relations that have been significantly strengthened in recent years. Mouly noted that the exhibition highlights that Algerian companies offer products of high quality that comply with international standards. President of the National Union of Public Contractors Charaf Eddine Amara said that the Algerian economy is witnessing a qualitative transformation in line with the policy of diversification of trade exchanges. He assured that this is reflected in the government's encouragement to companies to promote Algerian products, pointing out that Algeria has become an attractive destination for foreign investments. During the meeting, the Investment Promotion Agency (IPA) made a presentation on the investment climate in Qatar, while the Algerian Investment Promotion Agency (AIPA) presented the business climate in Algeria, as well as its export and transportation capacities. Following the meeting, the attendees toured the exhibition, where they were briefed on the products and the exhibiting companies. Source: Qatar News Agency