The Abu Dhabi Chamber of Commerce and Industry hosted the recent UAE-Algeria Investment Forum to strengthen trade relations between the two nations.
Speakers and guests expressed gratitude for the opportunity to share information and work toward developing a bilateral economic relationship between the United Arab Emirates and Algeria. They also praised the economic diversity and noted the potential of tourism, renewable energy, real estate and small-to-medium enterprises (SMEs) to supplement the changing oil industry.
“I am pleased to welcome you in your second country and look forward to the outcomes of this forum to live up to the ambitions of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, president of the UAE, and his brother His Highness Abdelaziz Bouteflika, president of Algeria," Mohammed Thani Murshid Al-Rumaithi, chairman of the Federation of UAE Chambers of Commerce and Industry and chairman of the Abu Dhabi chamber, said in his welcoming remarks.
Among participants at the forum were Algerian Ambassador to the UAE Saleh Atiyah, UAE Minister of Economy Sultan Bin Saeed Al-Mansouri and Algerian Minister of Industry and Mines Abdul Salam Bushoarb, who noted the dramatic turnaround of Algeria’s economy over the last decade and a half.
“Algeria has never recorded improvement in its economic indexes as those … made over the past 15 years which enabled Algeria to write off its foreign debts and double its public investments,” Bushoarb said, citing the nation’s increased economic growth, controlled inflation and reduced unemployment as a reliable foundation for going into new economic ventures with the UAE.
Representatives from over 400 businesses attended the forum, which also served as backdrop to scores of individual meetings, opening new dialogues with potential for