Algeria and Egypt Agree to Strengthen Economic Dialogue
The Algerian Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, agreed on Tuesday with the Egyptian Minister of Petroleum and Mineral Resources, Karim Ibrahim Ali Badawi, to intensify dialogue and exchange visits between economic actors in both countries. They also agreed to work on implementing joint projects based on the “win-win” principle, especially in the fields of energy infrastructure, mineral resource processing, and the establishment of power generation and transformation plants.
The agreement was made during talks between the two parties on the sidelines of the OMC Med Energy Conference and Exhibition held in Ravenna, Italy. In his meeting with Minister Karim Ibrahim Ali Badawi, Minister Mohamed Arkab discussed the historically strong and distinguished cooperative relations between the two countries and reviewed new investment and partnership opportunities, especially in the fields of energy, mining, and renewable energy.
During the talks, which were attended by the Algerian Ambassador to Italy, the CEOs of Sonatrach and Sonelgaz, along with officials from both sides, the two parties highlighted the potential for cooperation in areas such as research and exploration, field development, refining, petrochemicals, and the marketing of liquefied natural gas (LNG) and liquefied petroleum gas (LPG). They also discussed the development of green hydrogen. Furthermore, they stressed the importance of leveraging opportunities in the mining sector, particularly in phosphate processing and fertilizer production, and emphasized the exchange of expertise and technical knowledge in this vital field.
Minister Arkab called on the Egyptian companies to seize the partnership and investment opportunities offered by the new legislative frameworks for investment, hydrocarbons, and mining in Algeria, which would enhance bilateral cooperation and increase the contributions of both parties to the economic development of both countries.
For his part, the Egyptian minister expressed his satisfaction with the quality of relations between the two countries, praising the dynamism of these relations, especially following the official visit of President Abdelmadjid Tebboune to the Arab Republic of Egypt.
