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Economy minister discusses cooperation with Algerian minister

posted on 24/12/2008: 1281 views

Economy Minister Sultan bin Saeed Al-Mansouri received at his office yesterday Algerian Minister of Small and Medium Scale Enterprises and Traditional Industry, Mustafa bin Bada.

During the meeting which was held in the presence of the Economy Ministry Undersecretary, Mohammed Ahmed bin Abdul Aziz Al-Shehhi and Algerian Ambassador, Hamid Chebira, they discussed ways to boost investment and industrial cooperation and ways to encourage the companies in the two countries to enter into joint ventures for their mutual benefit.

Al Mansouri said relations between the UAE and Algeria are fraternal and strong, adding that these ties continue to flourish under the wise leadership of the two countries.

He stressed on the role of private sector in developing and boosting practical relations between the two countries while the government is busy putting legal framework for the development of those ties. He said there was the need to find appropriate means of boosting cooperation between small and medium scale enterprises in the UAE and Algeria, in particular, and in the whole of the Arab world in general.

He noted that there was the need for Algerian business establishments and companies to boost their presence in the exhibitions and festivals being held in the UAE to expand the market base of Algerian products in the region.

Al Mansouri briefed the Algerian minister about the state of the UAE economy, which, he said, continues to achieve very good growth rates in all the economic sectors. He pointed out that the UAE recorded a growth of 16.8 percent last year which pushed the GDP to Dh730 billion, with the oil sector accounting for 64.1% of the amount. He said many companies of the world had made the UAE their hub, adding that the UAE remains committed to continuing with economic reforms that will match with local and international economic developments.

The Algerian minister, for his part, said his country was keen in boosting economic and trade ties with the UAE, adding that Algeria is highly interested in benefiting from the UAE's experience in various areas.

He praised the UAE for achieving economic development which, he said, had boosted the country's competitiveness position at the international level. – Emirates News Agency, WAM


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