The Algerian-Portuguese Business Forum will soon be organized in Lisbon, with the aim of promoting rapprochement between investors from the two countries, and studying the prospects for cooperation and partnership offered, explained Thursday in Algiers, the Director General of Algeria. Investment Promotion Agency (AAPI) Omar Rakkash.
Rexach was speaking in a statement to the press after his meeting with the Portuguese Minister of State for International Trade and Foreign Investments, Bernardo Ivo Cruz.
He added that this meeting, which will bring together Algerian and Portuguese businessmen, will give an impetus to economic cooperation between the two countries, especially with regard to investment.
The meeting was also an opportunity to discuss legislative and regulatory developments in the country, and efforts to remove obstacles facing investors.
“The Portuguese Minister of State informed us of the great development of the business climate in Algeria, and we assured him that all conditions have been met to welcome direct Portuguese investments with the aim of advancing them at the level of political relations between the two countries,” said Mr. Recach.
He added that during this meeting it was agreed to activate the Memorandum of Understanding signed in 2014 between the former National Agency for Investment Development (ANDI) and the Portuguese Trade and Investment Agency, as well as the Joint Technical Committee.
This revitalization will be followed, according to the Director General of the Agency, with other practical measures capable of increasing the number of Portuguese investments in Algeria, and strengthening cooperation and exchanging experiences between companies in the two countries.
The meeting shed light on the great willingness of the Portuguese side to enhance cooperation in the field of investment, as indicated by Mr. Rikach, who added that the number of Portuguese investments in Algeria has reached only eight projects so far. .
For his part, the Portuguese Minister of State affirmed that the series of meetings with Algerian officials made it possible to confirm the determination of the two parties to strengthen the existing economic and trade relations between Algeria and Portugal.
He pointed to the importance of the Algerian-Portuguese Business Forum, which will be held “soon” in Lisbon, with the participation of operators and officials from both countries.
This event will be an opportunity to educate Portuguese operators on the advantages offered by Algerian legislation, in particular the new investment law, as well as to exchange information and knowledge between companies operating in various sectors, as confirmed by Mr. Cruz.
A Memorandum of Understanding was initialed on March 19, 2014 by the former ANDI agency and the Portuguese Trade and Investment Agency (AICEP) and relates to the establishment of institutional relations between the two agencies to enhance bilateral economic cooperation.
It also aims to bring companies from both countries closer together with the aim of developing economic partnerships and exchanging experiences and good practices in encouraging investment through internal training and training for the benefit of executives from both institutions.
APS
