Council of Saudi Chambers hosts Algerian prime minister
The event involved a wide range of Saudi and Algerian business people and focused on enhancing economic and trade relations between the two countries.
The meeting came after an address made by Chairperson of the Saudi side of the Saudi-Algerian Business Council, Raed Al Mazrouei. Al Mazrouei encouraged Algerian investors to explore opportunities in Saudi Arabi and create joint ventures with Saudi businesses.
Al Mazrouei hopes that, within 10 years, Saudi Arabian business could invest $10 billion in Algeria.
President of the Algerian Business Leaders Forum Ali Haddad, for his part, spoke about the positive cooperation and coordination between the two countries. He showcased interest for his country in partnerships in several sectors. He stated that Algeria is a gateway for the Middle East to Europe and Africa.
The meeting between the two countries involved talks on subjects such as opportunities in both countries, increased joint ventures, challenges to investment flows, mechanisms that enhance effective participation from both countries, and the possibility of establishing a Saudi-Algerian bank specializing in financing bilateral investments in Algeria.