Algeria and Saudi Arabia Reaffirm Willingness to Boost Economic Cooperation

ALGIERS – The Algerian-Saudi Business Forum was held on Sunday in Algiers, where both parties affirmed their shared desire to strengthen cooperation in several economic sectors.

The meeting, organized by the Algerian Chamber of Commerce and Industry, brought together a number of Algerian economic operators and a delegation of Saudi businessmen visiting Algeria to explore partnership and investment opportunities, particularly in the sectors of food industries, agriculture, tourism, and construction.

On the occasion, the president of the Algerian Council for Economic Renewal, Kamel Moula, delivered an opening speech in which he emphasized that the partnership between Algeria and the Kingdom of Saudi Arabia holds promising potential for growth. He called for seizing this potential through effective investments and the exchange of expertise, aiming to create job opportunities and enhance both countries’ economic resilience in the face of challenges, while achieving sustainable development.

In this regard, Moula stressed the importance of the forum as an opportunity to strengthen cooperation, particularly in the fields of food industries, agri-food industries, iron and steel, tourism and entertainment, as well as information and communication technologies.

For his part, the Ambassador of the Kingdom of Saudi Arabia to Algeria, Abdullah Bin Nasser Al Bussairy, highlighted the importance of this meeting in supporting bilateral economic relations, describing them as “deep and rooted.” He also affirmed the commitment of the leaderships of both countries to strengthen these relations across various sectors.

The ambassador pointed out that the trade exchange value between the two countries had reached nearly one billion dollars, but noted that this “does not fully reflect the strength of their bilateral relations. He also added that Saudi investments in Algeria had seen significant growth, particularly in the fields of manufacturing, food industries, and agriculture.

Accordingly, the ambassador urged Saudi businessmen to explore the investment opportunities available in Algeria, particularly in light of the incentives provided by the new Algerian investment law.

The forum’s agenda features bilateral business meetings (B2B) between representatives of Algerian and Saudi companies, along with the signing of several agreements and partnerships between the two sides.