Algeria-Turkey Economic Forum: 4 major issues addressed by Tebboune

The President of the Republic, Abdelmadjid Tebboune, who concludes his State visit to Turkey, arrived this Tuesday, May 17, 2022 in Istanbul as part of the third and last day of this visit, at the invitation of the Turkish President, Recep Tayyip Erdogan. The President of the Republic, Abdelmadjid Tebboune, chaired the work of the Algerian-Turkish Business Forum there. On this occasion, he met a delegation of Algerian and Turkish businessmen.

Turkish Vice President Fuat Oktay hailed the high-level cooperation council, which was held in its first session between the two countries, saying his country does not see Algeria as a market, but rather as a important strategic partner for Turkey.

President Tebboune said: “Today, we carry the torch to you, businessmen and economic traders, to give impetus to our bilateral relations.”

Tebboune talks about the new bill for investors

During the forum, President Tebboune clarified that Algeria will soon adopt a new investment bill that will serve investments and investors, open up promising horizons and protect them.

The Head of State affirmed that: “The new Algeria is the Algeria of transparency, which is far from the old practices of which investors complained. The President also indicated in the same context that it was agreed to pave the way for partnership and investment in all sectors, such as the military and maritime industry and heavy industries.

The President of the Republic focused on blocking the path of old practices that hindered investment and said: “We are blocking old practices that have hindered investment in Algeria for years”, noting that “Only Algerian law protects investors and guarantees the sustainability of the investment, in addition to the good relations that unite us with Turkish President Recep Tayyip Erdogan. »

Direct State spending towards production

The Head of State underlined that “Algeria is about to review the budget and the expenditure of the State by directing them towards production, at a time when the world is experiencing economic stagnation, international institutions are recording and recognize that the growth rate in Algeria in 2022 will be 3%. »

The President of the Republic revealed that Algeria has recorded a surplus in foreign exchange reserves, since in 2021 it recorded a surplus of 1.5 billion dollars, noting that Algeria has reduced the import bill which kills the economy by $60 billion to $32 billion, which means that $28 billion has been lost, as the president explained. Finally, according to the President, Algeria hopes to invest in the agricultural sector, given the qualifications available to Algeria.

With this forum, the President of the Republic, Abdelmadjid Tebboune, concludes his state visit to Turkey, which will have lasted 3 days, following the invitation of his Turkish counterpart, Recep Tayyip Erdogan.

As for his arrival, it was the Turkish Vice-President Fuat Oktay, who was present for the departure of the President of the Republic, at Istanbul airport.

Leave a Comment