The Algerian government and the European Union have started discussions on a new partnership program, dubbed "EU-ALGERIA FOR BUSINESS", aimed at promoting investment and improving the business climate in Algeria. The program, which will run for 60 months, is being developed with technical assistance from the International Trade Centre, which has been tasked by the EU with this mission. The program's launch was attended by senior officials from the Algerian Investment Promotion Agency, the Ministry of Foreign Affairs, and the EU mission in Algeria.
The new partnership program aims to contribute to the diversification of the Algerian economy and enhance its capabilities by strengthening technical cooperation with the EU. It also seeks to improve the investment climate and develop sustainable and fruitful bilateral economic relations. The program will focus on three main areas: business climate and investment promotion, trade facilitation and digitalization, and quality and access to the European market. These areas will be discussed during the meetings, which will continue until October 14.
The first axis of the program will identify the challenges faced by investors, evaluate the opportunities available in various economic sectors, and encourage industrial partnerships. The second axis will focus on simplifying and digitalizing trade and customs procedures to reduce the operational burden on institutions and enhance their access to regional and international markets. The third axis will address the requirements for conformity, quality infrastructure, and certification procedures.
Omar Rkash, Director-General of the Algerian Investment Promotion Agency, emphasized that the program will lead to the development of a comprehensive and realistic plan that will achieve measurable results and implement concrete actions benefiting investors and institutions. He added that the agency will actively contribute to this effort, within its tasks and responsibilities, while ensuring the coordination of contributions from various Algerian parties and taking into account their needs and priorities.
Marco Miliorelli, head of cooperation at the EU mission in Algeria, stated that European direct investments in Algeria are a "priority for the EU". He noted that European institutions want to increase their investments in Algeria, considering it a key partner for Europe. The program is expected to enhance European investments in Algeria, facilitate trade exchanges, and support Algerian institutions in their efforts to access European markets.
The meetings are being attended by representatives from the Algerian Investment Promotion Agency, relevant ministries and public institutions, economic organizations, and employer organizations. The program's development is a joint effort between the Algerian government and the EU, with the aim of promoting economic cooperation and sustainable development.
The new partnership program is expected to have a positive impact on the Algerian economy, promoting investment, trade, and economic growth. The program's success will depend on the effective implementation of its objectives and the active participation of all stakeholders involved.
Key points
- The program aims to promote investment and improve the business climate in Algeria.
- The program will focus on three main areas: business climate and investment promotion, trade facilitation and digitalization, and quality and access to the European market.
- European direct investments in Algeria are a "priority for the EU".
