July 14th, 2021
ALGIERS- Participants in the 17th annual conference of the General Confederation of Finance (CGF), held Wednesday in Algiers, highlighted Algeria’s comparative advantages which allow it to expand its partnership and promote its exports with Africa, particularly through large companies in the energy, industrial and agribusiness sectors.
Speaking at the conference held under the theme: “What economic and commercial place for Algeria in the African continent,” Senegalese ambassador to Algeria, Serigne Dieye, said that
“Algeria has comparative advantages that allow it to position itself on the African continent in terms of trade and exports.
In this regard, the Senegalese diplomat highlighted the sectors of pharmaceutical industry, oil, food, building materials and electrical industries, saying that Algerian companies such as Sonelgaz and
Sonatrach can take part in the investment projects undertaken by African countries.
The production costs of Algerian companies are competitive and enable partnership projects with African companies, he said stressing in this regard the creation of joint ventures.
Noting the state of inter-African trade, the Senegalese ambassador lamented the low volume of trade between African countries which is about 12% while the flow of trade between European countries is more than 60%.
He further recommended the opening of external banks to support investors and economic operators, and the opening of new air and maritime transport lines to reduce freight costs and serve the entire African coast, particularly in the context of African Continental Free Trade Area (AfCFTA).