29/05/2021

Minister of Commerce Kamel Rezig on Saturday the Algerian and Libyan businessmen to contribute to laying the solid foundations of a win-win economic cooperation between the two countries, in line with the competitive capacities and preferential advantages of each country.

Speaking at the opening of the Algerian-Libyan Economic Forum, Rezig said that the event is “an opportunity for the economic operators from both countries to boost investment and revive joint projects,” adding that the private sector, which achieves an appreciable growth rate, “may represent the most appropriate driving force to building a solid economic cooperation between Algeria and Libya.”

Such meetings aim at “forging a genuine partnership which would create joint resources and jobs” and expand the regional spaces so they become a source of short- and long-term development, said the minister.

Rezig said that the large participation of the economic operators from both countries in this forum represented a new affirmation of a “common awareness” as to the importance of the challenges facing the future of the peoples and economies of the countries of the region.

The Minister of Commerce also underlined the importance of deepening “the privileged political relationship with Libya, a brother country” which must be strengthened through a “process of integrated economic development, in particular in view of the current geopolitical circumstances.”

For Rezig, the success of this partnership depends on a “tangible and pragmatic” support from Algerian-Libyan businessmen, through the reactivation of the Algerian-Libyan Joint Business Council.

The Libyan operators “are welcome in Algeria, in order to establish and facilitate their economic projects in various fields,” said the Minister for Commerce.

Over the last three years, the Algerian-Libyan economic relations have experienced “a clear improvement” as trade volume rose up to $59 million in 2020, against nearly $31 million in 2018, he said.