Algeria-Türkiye Forum : Strategic Partnership Spurs $6 Billion Investments
ALGIERS — Algeria’s Ambassador to Türkiye, Amar Belani, underscored in Istanbul the “significant” and “notable” evolution of Algeria-Türkiye relations since 2020, inviting Turkish investors to tap into the numerous opportunities in the Algerian market.
Belani’s speech came during the inaugural Algerian-Turkish Forum in Istanbul, which began on Saturday and brought together Türkiye’s Minister of Trade Omer Bolat, along with businessmen, economic stakeholders and academics from both countries.
The forum, organized with the support of the Algerian Embassy, provides a platform for participants “to explore the best ways to build on existing successes and enhance economic cooperation between the two countries, in line with the decisions and directives of both countries’ presidents.”
In his opening speech, Belani offered an overview of bilateral relations, highlighting how they had evolved into a strategic partnership “following the decision of both presidents, made during President Erdogan’s visit to Algeria in November 2023.”
While noting “the significant and notable evolution of bilateral relations since 2020,” the Algerian Ambassador noted that Türkiye has emerged as “Algeria’s principal foreign investor outside the hydrocarbon sector, with investments totaling approximately USD$6 billion.”
The Ambassador said that with over 1,700 Turkish companies operating in Algeria, “bilateral trade volume has reached USD$6.3 billion, with plans to boost this figure to USD$10 billion in the near future.”
In this regard, Belani invited “Turkish investors to tap into the numerous opportunities in Algeria’s vast market potential, which has been further enhanced thanks to the latest reforms initiated by the President of the Republic, Abdelmadjid Tebboune.”
For his part, the Turkish Trade Minister applauded “the exceptional state of bilateral relations between Algeria and Türkiye and expressed his country’s authorities’ willingness to further deepen these ties, especially in the economic sphere.”
The Turkish minister welcomed the forum’s initiative, expressing confidence that it would help realize the goals established by the leaders of both countries.
“With Algeria being Türkiye’s top investment destination in Africa — owing to the support, facilitation, and guidance offered to Turkish investors — Türkiye remains committed to expanding its presence in the country,” he added.
