Qatar-Algeria business meeting discusses strengthening mutual investments

Qatar Chamber, in collaboration with the Algerian Chamber of Commerce and Industry, held the Qatar-Algeria Business Meeting on Wednesday.The meeting was attended by Tayeb Zitouni, Minister of Trade and Export Promotion of the Republic of Algeria, and Mohamed bin Hassan al-Malki, Undersecretary of the Ministry of Commerce and Industry.The chamber’s delegation was led by Rashid bin Hamad al-Athba, second vice-chairman, and included board members Dr Mohamed bin Jawhar al-Mohamed and Shaheen al-Mohannadi.The meeting addressed ways to enhance economic and commercial relations between the two fraternal countries, as well as the investment climate and opportunities available on both sides.Speaking at the meeting, al-Athba said Qatar and Algeria enjoy well-established and distinguished fraternal relations, noting that these relations have seen remarkable development in recent years across various fields, especially in the economy, trade, industry, energy, and technology.He said the two countries have made great strides in developing their co-operation through mutual visits and the signing of memoranda of understanding and co-operation agreements. He added that their trade exchange has doubled in three years, reaching QR297mn last year over QR132mn in 2020, emphasising the private sector’s key role in enhancing trade and economic co-operation between the two countries.Al-Athba called on the Qatari and Algerian private sectors to establish new alliances and partnerships across various economic sectors, affirming that Qatar Chamber encourages Qatari investors to explore opportunities in Algeria and form partnerships with their Algerian counterparts.For his part, Zitouni said the meeting reflects the qualitative development in Qatari-Algerian relations under the guidance of the leadership of the two brotherly countries. He pointed out that Algeria looks forward to a solid and fruitful partnership with Qatar, which will lead to an increase in trade.He affirmed that the holding of the first Algerian Products Exhibition in Doha, with the participation of 150 Algerian companies, would enhance co-operation between Qatari and Algerian companies. The Algerian minister called on Qatari investors to explore Algeria's evolving investment environment, noting that about 11 major Qatari companies have significant investments in Algeria.In turn, Kamal Mouly, president of the Algerian Economic Renewal Council, stated that Qatar and Algeria have historical relations that have been significantly strengthened in recent years. Mouly noted that the exhibition highlights that Algerian companies offer products of high quality that comply with international standards.Charaf Eddine Amara, president of the National Union of Public Contractors, said the Algerian economy is witnessing a qualitative transformation in line with the policy of diversification of trade exchanges. He assured that this is reflected in the government’s encouragement to companies to promote Algerian products, pointing out that Algeria has become an attractive destination for foreign investments.During the meeting, the Investment Promotion Agency (IPA) delivered a presentation on the investment climate in Qatar, while the Algerian Investment Promotion Agency (AIPA) presented the business climate in Algeria and its export and transportation capacities.