UAE and Algeria will sign on April 25 two accords preventing double taxation and protecting investment, officials at UAE’s ministry of finance and industry said, cited by the Gulf News.
An MoU will also be signed between Dubai and Algeria's chambers of commerce and industry on the sidelines of the second UAE in Algeria Exhibition from April 25 to 28, said Mohammed bin Zayed, the ministry’s assistant undersecretary for industrial affairs.
Dubai Ports Authority (DPA) and Jebel Ali Free Zone (Jafz) are considering signing a free zones and ports cooperation MoU with the Algerian ministry of trade, he added.
"The agreements will be signed by Dr. Mohammed Khalfan bin Kharbash, Minister of State for Finance and Industry, and the Algerian Minister of Economy. They will be valid from the date of signature," Mohammed said.
Zayed said the two agreements will open the door to an important phase in UAE-Algerian relations.
“They are part of the UAE's policy to support relations with the Arab world in preparation for the Arab free trade zone agreement,” he told the paper.
Trade volume between the two countries totaled Dh700 million ($191m) last year, said the paper – Albawaba.com
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