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Algerian British Business Council 13th February

Monday - 13 / February / 2017

Monday 13thFebruary 2017

 

Welcome to the latest Edition of the ABBC Business News Digest.

Please find here the latest business news and opportunities in Algeria.

 

 

ABBC Secretariat

Algeria British Business Council hosted a delegation from the Banque de Developpement Locale.

Lady Olga Maitland, chairman of the ABBC entertained a delegation from the Banque de Developpement Locale at her home for dinner before they undertook an intensive programme in the City of London studying British banking systems. The delegation was led by the Deputy CEO M. Daoud Makdoud. Accompanying the delegation was M. Rafik Boussa, Country Manager, Grant Thornton,the global accountants. The visit embraced a briefing on international banking at Citi Group,hosted by Mr Yidhir Taibi. This was followed by a briefing on banking at Grant Thornton at their Finsbury Square offices.  The second day was spent with an indepth briefing at the British Bankers Association, followed by a reception kindly hosted by H.E. The Algerian Ambassador, M. Amar Abba. Says Lady Olga Maitland:” This was an extremely positive visit. The BDL were keen to learn UK management at all levels. In addition special attention was paid to digital and IT systems, and the dangers of cyber-attacks.   There was a full analysis on UK risk in relation to lending and the safe guards we take to ensure there are no bad debts.The range of topics addressed was very broad which indicated to me a real desire to engage with understanding the way the City of London manages our banking sytems. All round I felt that the effort BDL went to in coming to London, is reflection of the importance the City of London has for all our markets, and Algeria is no exception.”

Economic partnership: Algeria, France's "decisive ally"

06/02/2017

PARIS-Algeria is "a decisive ally" for France, said the Senior Executive in charge of Algerian-French industrial and technological cooperation Jean-Louis Levet, stressing it is the most "stable" country in the Maghreb region.  In the third part of a long interview to economic daily La Tribune, Level said France can move farther in its cooperation with Algeria through an agreement, like the one inked with Austria, on the fields it seeks to develop, adding "Algeria is a decisive ally for France.” "Algeria is currently the most stable country in the Maghreb," stressed Levet, adding faced with international competitors in the region, particularly Germany, "I am convinced we can be part of Algeria's development strategy," he said. In this regard, the French official added "I became aware very rapidly of the fact that my mission should also take into consideration the private sector because during my visits, I have progressively discovered many Algerian entrepreneurs, who make great effort to develop their businesses.” Read More

Strengthening energy cooperation at heart of Algeria-Tunisia bilateral committee

07/02/2017

ALGIERS-The Algeria-Tunisia bilateral committee met Tuesday in Algiers under the co-chairmanship of Minister of Energy Noureddine Bouterfa and Tunisia's Minister of Energy, Mines and Renewable Energies Hala Chikh Rouhou. Held periodically since many years, the meeting focused on the means to strengthen energy cooperation between the two countries, particularly gas and oil supply to Tunisia.In a statement to the press, Bouterfa affirmed the meeting held in camera the national company for distribution and marketing of oil products "Naftal" had the means to supply Tunisia's border with larger quantities of gas and liquefied oil. "We are ready to meet Tunisia's needs (in gas and liquefied oil) and increase supplied quantities," he added. Both parties agreed to engage Sonatrach group and the Tunisian Company of Petroleum Activities in a partnership to broaden the activity of the Algerian-Tunisian joint company "Numid," created in 2003.  This company operates in the exploration and production of oil and gas in Algeria and Tunisia. Read More

State supports investors for development of agriculture in Algeria

06/02/2017

OUARGLA- The State supports investment projects for the development of agriculture in Algeria, said Monday Minister of Agriculture, Rural Development and Fishing Abdesslam Chelghoum. "The State provides different forms of support to investors in order to allow them to achieve their projects and contribute to the development of agriculture in Algeria," said the minister while inspecting a farm in the locality of Gassi-Touil, in Hassi Messaoud, on the second day of his working visit to the province of Ouargla (800-km southeast of Algiers). Chelghoum praised investors for their efforts for the development of agriculture in the Saharan region, adding that "besides hydrocarbon production, the region will contribute to the diversification of the country's economy, through projects launched by young farmers for the development of thousands of hectares.” Read More

Need to strengthen Algeria-US economic cooperation

04/02/2017

WASHINGON- Algeria and the United States should further strengthen their economic cooperation up to a level commensurate with their strategic security partnership, said in Washington Algerian senator and business managers. During a debate entitled "Algeria and the United State: New dawn on the horizon?"," organized by the American Think Tank, the Center for Transatlantic Relations, the participants underlined the need to advance towards a new cooperation between the two countries, focusing on the development of economy and investments. The American think tank invited to the two-hour debate Algerian Senator Hafida Benchehida, chairman of the Algerian-US Business Council (USABC) Smail Chikhoune and industrialist Slim Othmani. Read More

National Shipping Company takes delivery of new cargo ship

09/02/2017

The USD$25million ship "Timgad" has been manufactured in China. Its capacity can reach 12,000 tonnes of goods and 800 containers. This is the 7th ship purchased by CNAN-North as part of the CNAN Group capacity building programme, which fleet currently includes 9 ships and its subsidiary CNAN Med bought two cargo ships. The national merchant navy development plan eyes the purchase of 25 ships, including 18 cargo ships for CNAN North and seven for CNAN Med.This plan aims to meet the growing demand in terms of maritime transportation, responsible for the conveying of 95% of imported goods by Algeria. Read More

Algeria's dams 71 percent full

07/02/2017

BLIDA-The filling rate of dams reached 71% nationwide following the rainfalls recorded since last November, which allowed the mobilization of more than additional 1.1 billion m³, announced Tuesday in Blida Minister of Water Resources and Environment Abdelkader Ouali.   "The recent rainfalls have increased the filling rate of dams to 71% nationwide, in addition to the mobilization of additional 1.1 billion m³," stressed the minister on the sidelines of the 2nd and last day of a national seminar themed "Partnership for environment." Abundant water does not mean we can waste it," stressed Ouali. The good management of the presidential program has led to an increase in water volume for citizens from 1.2 m³ in 1999 to 3.6 m³ billion currently, said Ouali.  Read More

Tebboune warns against any rise in price of subsidized products

 

ALGIERS- Minister of Housing, Urban Planning and the City, and Interim Minister of Trade Abdelmadjid Tebboune on Tuesday warned against any increase in the prices of subsidized products, adding that speculators will get the maximum penalties. Tebboune, who was chairing a meeting with the executives of the Trade Ministry, the first since its appointment as interim minister, underlined that any increase in the prices of products subsidized by the State is considered as misappropriation of public funds and illegal misappropriation of aid. Read More

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Algeria British Business Council
Tel: +44 (0) 20 7591 4816
Fax: +44 (0) 20 7591 4810
E-mail: info@meconsult.co.uk

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ABBC Chairman
Lady Olga Maitland

Tel: +44 207 837 9212
Fax: +44 207 713 0794
Mobile: +44 7778 917 133
E-mail: olga.maitland@virgin.net

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