Mohammed Thani Murshid Al-Rumaithi, chairman of the Federation of the UAE Chambers of Commerce and Industry and chairman of the Abu Dhabi Chamber of Commerce and Industry, discussed the development of a joint Emirati-Algerian investment forum in the second quarter of 2016 with Algerian Ambassador to the UAE Saleh Eitah during a recent meeting in Abu Dhabi.
Al-Rumaithi said the relationship with Algeria allows for Emirati businesses to expand within the Algerian markets. During the meeting, Al-Rumaithi also said that the Abu Dhabi chamber routinely encourages its members from Emirati companies to invest in Algeria. In addition, he noted how important the partnership between the two countries is and how valuable it would be to develop the tools needed to increase trading between the two regions. Mohammed Helal Al-Muhairi, Director General of the Abu Dhabi Chamber also attended the meeting.
“Trade relations between the two countries require spending more efforts to increase their volume and develop their mechanisms considering the available economic and natural capabilities,” Al-Rumaithi said.
The purpose of organizing a joint Emirati-Algerian investment forum is to engage with businessmen and investors of the UAE to inform them of Algeria’s investment opportunities as well as stimulate economic and investment relations. Al-Rumaithi said building a collaborative forum would ultimately increase Emirati investments and expand projects in Algeria.
“Organizing such a forum would provide businessmen, companies and investors in the UAE with complete information on the available investment opportunities and the procedures and facilities of doing businesses in Algeria,” Al-Rumaithi said.
Al-Rumaithi's presentation to the Algerian ambassador said the role of the Abu Dhabi chamber is to act as the voice of Abu Dhabi businesses and offer valuable services which lead to the expansion and advancement of businesses and to build international partnerships. The presentation also included information on how to increase trade exchange, build economic cooperation and develop the current level of collaboration between the two countries.
Eitah said the UAE-Algerian investment forum will offer strong possibilities for Emirati businessmen and companies to increase their investments in Algeria. Eitah also said Algeria is filled with natural resources and investment opportunities in numerous industrial, services and agricultural sectors.