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
future development.
