ID :
36929
Mon, 12/22/2008 - 13:35
Auther :
Shortlink :
http://m.oananews.org//node/36929
The shortlink copeid
UAE, Algeria eye stronger trade, investment relations
Abu Dhabi, Dec 22, 2008 (WAM) - UAE Minister of Foreign Trade Sheikha Lubna Al Qasimi and Algerian Min. of Small '&' Medium-Sized Enterprises '&' Handicrafts Mustapha Benbada today discussed ways to further promote trade and investment relations between their two countries.
At a meeting in Abu Dhabi which was attended by senior officials from both sides, the two sides also discussed ways to encourage UAE and Algerian companies to enter into joint projects and tap on the opportunities made available by the two economies with a focus on agricultural and services small and medium-sized enterprises.
AL Qasimi briefed the Benbada Minister on the UAE's economic potentials and the attractive investment environment noting the fast growth rate of economic growth.
For his part, the Algerian Minister stressed that his country is committed to further bolstering economic and trade relations with the UAE and tapping the modern infrastructure of trade and its global competitive edge.
He said the Algerian government is preparing a US$150 billion infrastructure development plan.
He also noted that his country is also restructuring the agriculture and other sectors to decrease oil-dependency which currently stands at 55%.
The UAE-Algeria trade reached $150 million in 2007. UAE investments in Algeria are expected to reach $50 billion in the coming few years.
At a meeting in Abu Dhabi which was attended by senior officials from both sides, the two sides also discussed ways to encourage UAE and Algerian companies to enter into joint projects and tap on the opportunities made available by the two economies with a focus on agricultural and services small and medium-sized enterprises.
AL Qasimi briefed the Benbada Minister on the UAE's economic potentials and the attractive investment environment noting the fast growth rate of economic growth.
For his part, the Algerian Minister stressed that his country is committed to further bolstering economic and trade relations with the UAE and tapping the modern infrastructure of trade and its global competitive edge.
He said the Algerian government is preparing a US$150 billion infrastructure development plan.
He also noted that his country is also restructuring the agriculture and other sectors to decrease oil-dependency which currently stands at 55%.
The UAE-Algeria trade reached $150 million in 2007. UAE investments in Algeria are expected to reach $50 billion in the coming few years.
