UAE, Algeria to sign trade-boosting agreements
Algeria and the United Arab Emirates are scheduled to sign a memorandum of understanding, aiming to prevent double taxation and to bilaterally protect investment, reported Gulf News.
Representatives of the two countries’ chambers of commerce will sign the documents during the second UAE in Algeria Exhibition, which is to take place from April 25 to 28. Some 50 UAE companies have so fat registered to participate in the exhibition.
Gulf News added that the Dubai Ports Authority (DPA) and Jebel Ali Free Zone (JAFZ) are also considering signing agreements concluding free trade zones and ports cooperation with the Algerian Ministry of Trade.
According to Mohammed Bin Zayd, the assistant undersecretary for industrial affairs at the UAE ministry of finance and industry, the two agreements are part of the UAE's policy to support relations with the Arab world in preparation for the comprehensive Arab free trade zone agreement.
The current level of trade between the UAE and Algeria reaches about $190 million per annum. — (Albawaba-MEBG)
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