23.8 C
Dubai
Thursday, March 28, 2024
spot_img

Emirates News Agency – UAE, Algeria advance economic partnership

[ad_1]

ABU DHABI, 25th February, 2023 (WAM) — The 15th session of the UAE-Algeria Joint Economic Council was held in Abu Dhabi, with Abdullah bin Touk Almari, Minister of Economy, and Algeria’s Minister of Industry, Algeria. Ahmed chaired the event in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

The UAE Minister of Economy said: “The late Sheikh Zayed bin Sultan Al Nahyan and President Houari Boumediene established frameworks of brotherhood and partnership that have proven to be the A real basis for solid Algerian relations.”

“Economic cooperation is one of the main pillars of the strong relationship between the two countries, with non-oil trade between the two sides recovering from the impact of the Covid-19 pandemic, growing 14% from US$701 million in 2020 to approximately US$800 million by the end of 2022. We look forward to working together in the next phase, particularly through this Commission’s plan, to increase our trade flows to more than the $1 billion reported in 2019.”

The Minister of Industry of Algeria stated that this committee meeting reflects the sincere political will of the leaders of the two countries, as well as the firm determination to elevate the relationship and cooperation between the two countries to the level of a strategic partnership and realize the common interests and aspirations of the two countries. Further development and progress.

Dr. Al-Zeyoudi said that in 2021, the UAE will be one of Algeria’s main Arab trading partners, accounting for nearly 20% of the trade volume between Algeria and Arab countries, ranking first in the Gulf region with a ratio of more than 40%. Algeria’s trade with GCC countries. He added that by the end of 2021, the total value of UAE investment inflows to Algeria is approximately US$600 million.

hatem muhammad

[ad_2]

Source link

Related Articles

UAE Youth: Advocating for Responsible Social Media Usage Post-Florida Ban

UAE: Empowering Parents with Social Media Guidelines for Children Post-Florida Ban Amidst global concerns over the influence of social media on young minds, a recent...

E-Visas for GCC Countries – Your Comprehensive Guide

E-Visas for GCC Countries with Clarity and Ease As the implementation of the unified tourist permit among GCC countries progresses, residents of these nations can...

Sharjah Refutes False Allegations on Azan Alterations, Empowering Truth

Sharjah Refutes False Claims Regarding Azan Alterations In the United Arab Emirates (UAE), stringent measures are in place to combat the dissemination of rumors and...

UAE Strengthens Health Protocols: Influenza Vaccination Compulsory for Umrah and Haj Pilgrims

UAE Takes Bold Step: Influenza Vaccination Mandatory for Umrah and Haj Pilgrims The United Arab Emirates (UAE) has taken a significant stride in safeguarding public...

Dubai Salik’s Toll Gates with Complimentary Hours and Avoid Balance Depletion

Dubai Salik's Toll-Free Hours and Avoid Account Depletion Dubai's implementation of the Salik toll gates in 2007 marked a significant step in the emirate's efforts...

Latest Articles