President Tebboune Showcases Algeria’s Economic Progress in Rome
The Algerian President, Abdelmadjid Tebboune, underscored the achievements of the Algerian economy on Wednesday in Rome, characterizing Italy as an “essential and serious partner” in supporting Algeria’s ambitious economic dynamism for their mutual benefit.
Co-chairing the closing session of the Algerian-Italian Business Forum with Italian Prime Minister Giorgia Meloni, the President stated that organizing the forum “reflects the depth of our historical relations and embodies our commitment to further strengthen and elevate them to the desired level.”
In this context, he observed that the Algerian economy is experiencing “significant momentum across various sectors, evidenced by the positive results achieved in recent years,” with indicators ranking “among the best in the Mediterranean region.”
He highlighted “economic growth, diversification of the economy, and management of major balances,” which, he asserted, “demonstrate the effectiveness of the measures taken to achieve a model aligned with those classified as emerging countries in Europe.”
After emphasizing the “political and institutional stability” enjoyed by Algeria, the President pointed out the development of infrastructure, stating that Algeria, which possesses “the largest road network in Africa,” aims to create “the largest railway transport network on the continent.”
He also noted that Algeria has 24 airports and a robust human capital base. “Thanks to its talented workforce and ambitious youth, Algeria presents significant investment opportunities in diverse fields such as renewable energy, pharmaceuticals, transformation industries, digital innovation, mining, agriculture, tourism, and the development of financial services,” he remarked.
Regarding bilateral cooperation opportunities, the President reiterated that for Algeria, Italy is “an essential and serious partner in supporting our country’s ambitious economic dynamics, serving mutual interests through fruitful cooperation and the exchange of expertise,” emphasizing that Italy “is among our most reliable partners.”
“I would like to reaffirm our desire to revitalize industry on a sustainable basis that first meets national market needs and then shifts toward export,” declared the President.
“We seek to benefit from Italy’s globally recognized expertise, which has positioned it as the second-largest economic power in Europe, particularly concerning the ecosystem of industrial zones,” he continued.
Addressing economic operators from both nations, he encouraged them to “leverage the capital of historical relations between our two countries and the momentum of their strategic enterprises, aiming to strengthen the partnership based on the win-win principle,” while “capitalizing on complementarities across various sectors, particularly in executing major projects, extending the railway network in the Greater South over 8,000 km, valorizing raw materials, and advancing digitization.”
In conclusion, President Tebboune praised the bilateral projects undertaken in the hydrocarbons sector, specifically citing the recent contract signed between the Italian company ENI and the Sonatrach group, valued at “over one billion dollars.”
