BY: Hana Saada
Beijing– The Algerian Economic Renewal Council (CREA) Chairman, Kamal Moula expressed Algeria’ strong interest in fostering economic ties with China during an impactful business forum held in Beijing. With the participation of approximately 120 Algerian investors and economic operators, the event highlighted the nation’s commitment to introducing Algerian products and the attractive provisions offered by the Algerian investment law.
The forum emphasized the significant role played by China’s Belt and Road initiative in opening up opportunities for global collaboration. Moula stated, “Our challenge lies in acquainting Chinese investors with the Algerian market and its potential. Despite geographical distances, Algeria and China share a robust historical relationship. The Belt and Road initiative not only serves as a secure trade route for transporting our products, but also brings Africa closer, with the road crossing the Sahara Desert nearing completion. This strategic advantage enables Algerian goods to reach the depths of Africa in just four days, a feat that takes some countries three months.”
The event was further boosted by the historic visit of Algerian President Abdelmadjid Tebboune, leading an important delegation to the People’s Republic of China. The visit encompassed a strong economic forum that sought to enhance cooperation between the two nations. Moula emphasized the need to exchange experiences and harness Chinese expertise, acknowledging China as a powerful economic reference.
Moula remarked, “We are actively working on multiple fronts to bolster joint cooperation, recognizing China’s economic strength and exemplary track record. Our goal is to build a mutually beneficial economic partnership. Algeria can serve as a rear base for Chinese companies through joint production, capitalizing on our attractive energy costs, skilled labor force, and strategic location near Europe with preferential agreements. This advantageous position can offer Chinese companies unparalleled opportunities, while also allowing Algeria to benefit from China’s expertise in areas like food, health security, and renewable energies.”
Mr. Moula asserted that the new legislation offers a unique advantage: the promise of long-term stability and visibility spanning a minimum of 10 years. This unparalleled provision is a testament to the Algerian government’s commitment to safeguarding investors’ interests, providing them with a secure and protected environment to flourish and prosper. Such a remarkable feat undoubtedly solidifies Algeria’s position as an attractive investment destination, fostering fruitful collaborations and driving economic growth for both local and international entrepreneurs alike.
The Algerian-Chinese Business Forum witnessed the signing of 12 agreements between various institutions, further solidifying the commitment to forging strategic partnerships in diverse fields. The presence of a high-profile ministerial delegation from Algeria alongside Chinese economic operators and investors added weight to the occasion.
Throughout the forum, opportunities for new partnerships and the development of joint projects between Algeria and China were actively discussed. The signing of the agreements highlighted the determination of both nations to promote collaboration across multiple sectors, taking full advantage of the strengths and resources each brings to the table.
As Algeria and China embark on this journey of economic cooperation, they aim to build a foundation of shared progress and development. With the Algerian government’s proactive policies and the vast expertise offered by Chinese investors, this partnership is poised to usher in a new era of growth and prosperity for both nations.
The Algerian Economic Renewal Council and Chinese investors stand united in their pursuit of a win-win economic alliance, creating lasting opportunities for economic growth and innovation. As the Belt and Road initiative acts as a beacon of connectivity, this historic forum in Beijing marks a crucial step towards a fruitful and enduring collaboration between two nations destined for greatness.
