Algeria, Egypt to increase commercial exchanges and investment volume, Qandil says

EGYPTIAN PRIME MINISTER ON A VISIT TO ALGERIA

ALGIERS- Egyptian Prime minister Hicham Qandil announced Tuesday in Algiers he agreed with his Algerian counterpart Abdelmalek Selal to work for the intensification of commercial exchanges between the two countries in addition to the increase of the investment volume for a beneficial partnership for the two parties.
 
The Egyptian and Algerian governments drew common objective to double the volume of commercial exchanges between the two countries which reached USD 1.3 billionduring the first half of 2012, Qandil told a press conference.
“We commissioned ministries of the two parties to set up mechanisms able to achieve this objective on the ground according to both countries needs and capacities,” he added.
Qandil also underlined that it was agreed to award a portion of housing projects scheduled in the Algerian government’s plan to Egyptian companies of good reputation and able to achieve these projects within the time allowed and provide a quality work in conformity with agreed standards and conditions.”


Otherwise, Egypt examines with Algeria the importation of the Algerian gas and the rising of cooperation level in the energy area, he informed. Qandil denied the information reported recently by some media that Egypt would have requested a loan worth USD 2 billion from Algeria. “Egyptian government did not make this request but I can ensure that cooperation between Egypt and Algeria will be undoubtedly beneficial for the two parties in its economic side,” he argued.


The two parties also agreed to hold the Algeria-Egypt Joint commission in April or May 2013 in Cairo to permit the implementation and the enshrining of what have been agreed during this visit.

Works of this commission will be followed by the signing of many “important” agreements including the one related to the visa facilitation particularly for investors and businessmen.

(APS) Tuesday 23 October 2012