Algeria-Egypt: Twelve bilateral cooperation agreements signed
Closing of the 8th session of the Algerian-Egyptian Joint Grand Commission
After eight years of interruption of the work of the Algerian-Egyptian Joint Commission, business resumes at a higher level between the two countries. Twelve (12) cooperation agreements in different fields were signed last Wednesday in Algiers, announced Prime Minister Aïmene Benabderrahmane, who co-chaired this new session with his Egyptian counterpart Moustapha Madbouli. The minutes of the session were also signed, which “draws the roadmap of common steps to consolidate bilateral cooperation during the next period”, he added.
Thus, the two countries mutually commit to intensify their efforts in the field of industry, energy and investment, digital and other sectors in order to achieve their increasingly ambitious objectives.
To raise the bilateral cooperation between the two gas giants to the level of the strategic partnership, Mr. Benabderrahmane, called for the strengthening of exchanges between the delegations of businessmen of the two countries and to take advantage of the advantages of the new investment law. , adopted last week at the National People’s Assembly (APN), and which “will open up new prospects for economic partnership between Algeria and Egypt”, he argued.
“The 8th session of the Algerian-Egyptian Joint Grand Commission confirms the existence of a common will to move forward, towards the development and diversification of bilateral cooperation, through the completion of ongoing projects and the exploration of other prospects for partnership and investment, in accordance with a roadmap setting our priorities and our common objectives”, he indicated, emphasizing the need to strengthen the economic, energy and trade cooperation between the two countries to deal with the growing geopolitical tensions whose “repercussions on the world economy are beginning to be felt”.
For his part, the Egyptian Prime Minister expressed his country’s desire to develop bilateral relations with Algeria, a brotherly country and strategic partner in the region. Mr. Madbouli said he wanted to strengthen cooperation in a wide range of areas, referring to “the possibilities of cooperation in attracting mixed capital for the realization of large-scale projects based on complementarity in terms of production in the sectors of agriculture, industry and services”. According to him, the new law on investment which “puts the local and foreign investor on the same footing and encourages the flow of capital”, would encourage Egyptian businessmen to invest in Algeria, also considering the suppression by the Algerian Government of the negative list of goods exchanged between Algeria and Egypt, should boost trade between the two countries.
“In the era of industry 4.0, Egypt aspires to develop cooperation with Algeria in the field of digitization of government services, the generalization of electronic means of payment, and financial inclusion, and this, in view of the positive impact of these areas on the economies of the two countries”, underlined Mr. Madbouli, expressing the wish of his country “to carry out bilateral industrial projects versed in exporting to international markets, particularly African “. Egypt sees in Algeria “a door to Africa”.
To take advantage of this opportunity, the Egyptians want to strengthen their investments in Algeria.
The two Prime Ministers, Algerian and Egyptian, emphasized during their meeting on “the imperative establishment of an agenda to implement the agreements signed, and this in the interest of the two countries and brotherly peoples insisting on the importance of “working together to have a common industrial and production base serving their regional space, in Africa or in Europe”.
The work of the Algerian-Egyptian Joint Grand Commission ended yesterday after two days of activities, exchanges and discussions between delegations of Algerian and Egyptian businessmen on the mechanisms for developing new investment projects. in the country. Before returning to his country, the Egyptian Prime Minister invited Mr. Benabderrahmane to visit Egypt “as soon as possible”.
As a reminder, the organization of this session intervenes in application of the orientations of the leaders of the two countries, the President of the Republic, Mr. Abdelmadjid Tebboune and the President Abdel Fattah El-Sissi, given during the visit of President Tebboune in Egypt, at the last January. The two Heads of State agreed during this State visit to “promote the frameworks of Algerian-Egyptian cooperation through the activation of mechanisms and consultation between the two countries at all levels”.
Thus maintaining the momentum of bilateral cooperation in various economic, commercial, agricultural and energy fields…
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Algeria-Egypt: Twelve bilateral cooperation agreements signed – La Nouvelle République Algérie
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