Economy

Minister of Trade: necessity of establishing regulatory framework for joint projects between Algeria and Nigeria

Minister of Trade and Export Promotion, Kamel Rezig, stressed the need to establish a regulatory framework for joint projects between Algeria and Nigeria in order to achieve mutual economic benefit.

In his intervention during the visit of a delegation from the National Institute for Political and Strategic Studies of Nigeria to the headquarters of the National Agency for the Promotion of Foreign Trade, the Minister stressed the importance of discussing ways that would enhance economic cooperation and trade exchange between the two countries and create profitable business opportunities for businessmen of the two countries.

In this regard, Rezeg referred to the work of his ministerial department to develop a permanent cooperation strategy to serve common interests and lay new parameters for permanent and fruitful economic and trade exchange relations between the two countries.

The Minister also considered Nigeria as an “important partner for Algeria, especially in light of the important joint projects between the two countries” such as the gas pipeline, the trans-Saharan route and optical fibers, which would achieve regional integration and economic integration between the Maghreb countries, the Sahel region and the grouping of West African countries, from rapprochement and establishing win-win economic and commercial cooperation.

The establishment of the African Free Trade Area is, according to the minister, one of the “notable achievements” in the history of the regional integration of the African continent “as it reflects the strong commitment of all member states such as Algeria and Nigeria in creating promising business opportunities within the largest trade market in the world and stimulating the movement of trade exchange and investments within the framework of a win-win partnership for the two countries.”

For his part, the Acting Director General of the National Agency for the Promotion of Foreign Trade (ALJEX), Abdellatif El Houari, said that Algeria ranks 17th for Nigeria’s suppliers with 0.6 percent of the imported products, equivalent to a value not exceeding 10.79 million US dollars.

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