UAE-Algeria Joint Economic Committee meeting discusses opportunities to strengthen bilateral trade and investments

Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, who is heading the UAE’s delegation to           Algeria, today, inaugurated the 8^th Joint Committee Meeting between the two countries in Algeria, in the presence of His Excellency Karim Joudi, Algerian Minister of Finance.

The meeting was attended by senior executives from various government sectors in the UAE, and discussed strategic areas of cooperation between both countries in the fields of investments, civil aviation, energy, industry and finance.

In his opening address, Al Mansoori said: “This meeting will set the platform for further strengthening bilateral trade and investment relations between our countries .   Both the government and private sector in the UAE look forward to an era of increased co-operation and stronger economic partnerships with Algeria”.

Al Mansoori urged Algerian officials to facilitate procedures for Emirati investors interested to invest in Algeria and invited businesses to leverage the positive growth environment offered by the UAE, especially in infrastructure, financial services, retail, health, aviation services, telecommunications and technology.  

“Investors and enterprises in the UAE are keen to explore business opportunities in Algeria. It is only natural that the harmonious and mutually supportive relations we share are extended to stronger bilateral trade relations,” he added. 

Al Mansoori said the UAE grew 1.3 % in 2009, with non oil exports increasing by 9%. Inflation has drastically come down to 1.6 % compared to 12.2 % in 2008. He said the the Ministry of Economy is working to enhance the investment environment and the economic performance in the UAE by developing around 14 draft laws such as foreign investments, companies, and competition laws among others.