As part of the follow-up to the Algerian-Turkish Joint Commission, the Turkish Minister of Foreign Affairs, Mevlüt Çavusoglu began a working visit of a few days to Algeria this Saturday. To this end, the Turkish diplomat gave more details regarding the state of investments between Algiers and Ankara during the current year.
Thus, if you want to know more, we invite you to read the entirety of this new edition of December 11, 2022. First of all, it should be noted that the Algerian Minister of Foreign Affairs Ramtane Lamamra chaired, in the presence of his counterpart Turkey, the meeting devoted to monitoring the results of the High-Level Turkish-Algerian Cooperation Council.
As a reminder, this commission was created at the end of the first session of the High Level Strategic Cooperation Council between Algiers and Ankara. This took place last May, in Istanbul. At the end of the meeting held in Algiers, Mevlüt Çavusoglu and his host spoke at a press briefing about the strategic partnership between the two countries.
Turkish investments in Algeria increase by 30% compared to 2021
On this occasion, the Turkish politician said that several areas of cooperation were discussed during this meeting. In particular, trade, industry, agriculture and energy. Indeed, Mevlüt Çavusoglu reaffirmed the desire of the Turkish government to strengthen bilateral relations between Algeria and Turkey, including investments.
In this wake, the aforementioned diplomat reported a 30% increase in the value of Turkish investments in Algeria. And this compared to the previous year. Moreover, he estimates that this value should exceed 5 billion dollars. In fact, the President of the Republic Abdelmadjid Tebboune and Recep Tayyip Erdoğan plan to reach the 10 billion dollar mark, says the senior Turkish official.
Algiers – Ankara cooperation: the number of Turkish companies in Algeria has exceeded 1,400 companies
According to Anadolu Agency, the Turkish Foreign Minister pointed out that the number of Turkish companies operating in Algeria has exceeded 1,400 companies. Indeed, Mevlüt Çavusoglu believes that Algeria offers good opportunities for investment. Especially in agriculture.
For his part, the head of Algerian diplomacy, Ramtane Lamamra, expressed his praise for the level reached by Turkish-Algerian bilateral relations. According to Lamamra, the holding of this committee proves that “the Algerian-Turkish relationship has become unique”. As a result, he insisted on the importance of “elevating bilateral relations to levels that meet the aspirations of our two peoples”. Especially since the Algerian-Turkish link “has a prosperous past, present and future”. Ramtane Lamara also revealed that Turkey has become, in recent years, the first non-hydrocarbon foreign investor in Algeria.