‘Qatari-Algerian economic relations flourishing’

Neghza, who also holds the Presidency of the Board of Directors of the Arab Labour Organisation (ALO), said in an exclusive statement to Qatar News Agency (QNA) that the economic relations between the State of Qatar and Algeria are undergoing unprecedented prosperity, with a promising future awaiting them. CGEA President added that it is without a doubt that economic co-operation and the volume of trade exchanges between the two countries will continue to rise. She also expressed that there is a desire to expand and develop economic co-operation even more in all directions.Neghza also stressed that the two countries have gone a far way in strengthening their trade and investment relations, having multiple frameworks for economic co-operation. CGEA President added that Qatar today is the largest Arab investor in Algeria, with even more investments expected to come, in light of partnership efforts, in addition to cooperation between the private sector in both countries.She pointed out that there are many sectors through which cooperation mechanisms can be developed, such as agriculture, industry, energy, services, tourism, and sports, to achieve integration between the two countries, especially since Qatar has a strategic vision for investment abroad, while Algeria provides a market ready for profitable investment across multiple sectors.In this context, Neghza referred to the joint investment between both countries in the field of steel through the Algerian Qatari Steel company (AQS), stressing that this is an exemplary partnership, which can be greatly harnessed in the coming years, given the huge opportunities that have not yet been utilised.The CGEA president expressed her great admiration for the amazing advancement that the State of Qatar has undergone at an economic and developmental level, considering that the State of Qatar has achieved huge economic achievements, forming an economic model to be emulated in the region, through the advantages it established during the last two decades.When it comes to Algeria, Neghza stressed that the most important policy in the economic programme of Algerian President Abdelmadjid Tebboune is to diversify the country’s economy and increase the volume of exports outside the oil and gas sector, considering that the State of Qatar represents an economic model for Algeria in this field.She also explained that Algeria has enacted new laws to open the door to foreign investment and attract foreign capital, especially from Qatari investors, to benefit from the relative advantages of the Algerian market, including a supply of a qualified labour force, and low energy prices.The CGEA President added that the new investment law strengthens Algeria’s orientation towards diversifying its economy, to become more attractive to foreign investments, without forgetting its strategic location and natural wealth, in addition to its human qualifications and stability. She also emphasised CGEA’s distinguished relationship with the Qatari Businessmen Association by saying that it is necessary to organise joint bilateral meetings between businessmen in the two countries to study the multiple investment opportunities.In her capacity as the ALO Board of Directors President, Saida Neghza highlighted that the world is heading towards forming strong economic blocs to face the dangerous and sudden contemporary challenges. In that respect, she considered that the gathering of Arab states in the framework of the Arab League Summit in Algeria would enable the optimum utilisation of the region’s human resources and natural resources.At the conclusion of her statements to QNA, the CGEA President affirmed that the FIFA World Cup Qatar 2022 tournament represents a global football ceremony and a source of pride for all Arab countries, expressing her full confidence in the State of Qatar in organising an exceptional, successful and impressive edition at all levels.