The Council of Saudi
Chambers recently held a meeting in honor of Algerian Prime Minister Abdelmalek
Sellal.
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.
