The Algerian-Austrian Business Forum was held in Algiers, bringing together Algerian and Austrian entrepreneurs to discuss investment opportunities and partnerships. The forum was part of a visit by an Austrian economic delegation led by Austrian Federal Minister for Economics, Energy, and Tourism Wolfgang Hattmannsdorfer. The delegation consisted of 22 companies representing various sectors. The forum aimed to strengthen economic relations between Algeria and Austria.
During the forum, Hattmannsdorfer highlighted that Austrian companies have technologies and solutions that can meet the needs of the Algerian market, particularly in renewable energy, clean and green technologies, advanced materials, and industrial modernization. He also emphasized Algeria's strategic location near Europe, which he believes is an asset for developing trade and investment between the two countries. Hattmannsdorfer called for stronger economic relations between Algeria and Austria.
Jochen Danninger, Secretary-General of the Austrian Federal Economic Chamber, reaffirmed Austria's interest in deepening its economic partnership with Algeria. He identified several sectors with potential for cooperation, including energy, renewable energy, hydrogen, water, environmental technologies, agriculture, and agri-food processing. Danninger also noted that Algeria has enormous potential and is expected to play an important role in the future Mediterranean and European energy landscape.
Lisa Kronreif, from the commercial section of the Austrian Embassy in Algeria, reported growing interest from Austrian companies in the Algerian market. She stated that nearly 50 Austrian companies are already present in Algeria in partnership with local operators. Kronreif highlighted the opportunities offered by Algeria's economic diversification and infrastructure development.
Mourad Louadah, President of the Energy Commission of the Algerian Council for Economic Renewal (CREA), encouraged Austrian companies to go beyond simply commercializing their products and prioritize industrial partnerships, particularly in agri-food processing, hydrogen, and mining. Mahfouf Ogba, Director at the Algerian Investment Promotion Agency (AAPI), emphasized the reforms undertaken in Algeria to improve the business climate and create favorable conditions for national and foreign investors.
Rabah Charef, representing the Algerian Chamber of Commerce and Industry (CACI), called for accelerating the conclusion of a memorandum of understanding and cooperation with the Austrian Federal Economic Chamber. This would aim to consolidate trade and economic partnerships between the two countries. On the sidelines of the forum, a letter of intent was signed between Industriesoft and Palfinger EMEA GmbH to develop and distribute lifting and handling solutions in the Algerian market.
The Algerian-Austrian Business Forum demonstrated the interest of Austrian companies in the Algerian market and the potential for cooperation in various sectors. The forum provided a platform for entrepreneurs to discuss investment opportunities and partnerships, with a focus on industrial partnerships and economic cooperation. The visit by the Austrian economic delegation and the signing of the letter of intent reflect the commitment of both countries to strengthening economic relations.
Key points
- Austrian companies are interested in investing in Algeria's renewable energy and industrial sectors.
- The Algerian government has undertaken reforms to improve the business climate and attract foreign investment.
- The forum aimed to strengthen economic relations between Algeria and Austria, with a focus on industrial partnerships and cooperation in various sectors.
