ABBC Search:
ABBC newsletter sign-up:

Algerian British Business Council 20th February

Monday - 20 / February / 2017

Monday 20thFebruary 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, "a good example" in terms of budgetary efficiency

12/02/2017

WASHINGTON - IMF Managing Director Christine Lagarde said Saturday in Dubai that Algeria was "a good example" in terms of fiscal policy control through the program set up setting revenue and expenditure targets on several Years. Speaking at the second Arab public finance forum in Dubai, Lagarde stressed the need for Arab economies to define revenue targets in the design of a comprehensive fiscal policy. The definition of these objectives helps to align revenue with expenditure both in the short and long term, she noted. Read More

Merkel's visit to Algeria aims at strengthening economic cooperation

ALGIERS- German Chancellor Angela Merkel’s official visit on Monday to Algiers constitutes an opportunity to assess the Algerian-German economic relations and to reinforce the partnership avenues for a strong relation economically. This second visit of Merkel following that paid in 2008 will be notably marked by the holding of the 6th session of the Algerian-German Joint Committee and the Business Forum between the two countries’ operators. It also follows the visit Prime Minister Abdelmalek Sellal has paid to Berlin in January 2016, during which the two parties had identified about thirty partnership short and medium-range projects. Several economic matters will be thus examined by the Algerian and German officials. Besides the Algerian-German Committee, a meeting of the economic operators which will bring together nearly 70 German businessmen and one hundred Algerian operators is expected to be held late Tuesday, aimed at targeting projects in which partnerships can be forged. Numerous industrial sectors, part of the Algerian policy for economic diversification attract the German companies, notably the engineering industry, the car subcontracting, the renewable energy, chemistry and the pharmaceutical industry. In the engineering industry, Algeria and Germany are already lined by partnerships, such as for the manufacturing of Mercedes-Benz brand cars in Algeria by German group Daimler (parent company Mercedes-Benz), the National Company of Industrial Cars (SNVI), National Defence Ministry (MDN) and Emirati Group Aabar. Three Algerian-German-Emirati joint companies have been created in 2012 to develop the engineering industry in Algeria, namely: the Algerian Company for the manufacturing of the Mercedes-Benz heavy goods vehicles (SAPPL.MB) in Rouiba, the Algerian Company for the manufacturing of luxury vehicles Mercedes-Benz (Safav) in Tiaret and the Algerian company for the manufacturing of the brands of Mercedes-Benz, Deutz and MTU in Constantine. Moreover, the German car manufacturer Volkswagen signed, several months ago, an agreement with car dealer Sovac for the creation of a car assembly plant in Algeria. This plant, which will be based in Relizane, is planned to start production next June. For car models, namely Volkswagen Golf 7, Seat Ibiza, Skoda Octavia and Volkswagen Caddy will be assembled with a capacity of production of 12,000 units per day for the first year. The plant which required an investment of €170million eyes 100,000 vehicles after 5 years of activity. "This partnership will allow Algeria to be a bridge for the export of the brand cars towards the countries of the Maghreb and Africa," said the two partners. Over 200 German companies activating in various sectors have affiliated plants in Algeria.  Germany and Algeria also cooperate in the products of helium, a rare gas used in space industry and which Algeria is one of the producers. But the trade deficit which is estimated at $2.94 billion is unfavourable to Algeria. In 2016, trade between the two countries amounted $ 3.07 billion with more than $3 billion of Algerian imports from Germany and nearly $ 64 million of Algerian exports. The Algerian imports are made up of industrial equipment goods and consumer goods, while the  exportations are dominated by hydrocarbons (oil and gas) and the semi-products.

Algeria emerges as one of the champions of sustainable energy (WB)

16/02/2017

WASHINGTON- Algeria has emerged as one of the champions of sustainable energy among the group of developing countries, according to a new report from the World Bank, released Wednesday in Washington. According to the study entitled "Regulatory indicators for sustainable energy", Algeria has succeeded in establishing itself as one of the leaders in the field of sustainable energy, among the 45 countries with strong energy policies in the world. The report, which is based on a new set of indicators, shows that half of these 45 world leaders are developing countries that are increasingly emerging as champions of sustainable energy. He cites the example of Algeria, South Africa and Egypt for the African continent and that of China, India and Malaysia in Asia. Read More

Business climate in Algeria promotes investment

15/02/2017

ALGIERS- Saudi trade minister Madjid Ben Abdallah Al Qasabi said Tuesday night in Algiers that the business climate in Algeria was favorable to investment, calling on businessmen in his country to seize the opportunities offered in partnership with their Algerian counterparts, particularly in strategic sectors. "There are many opportunities for bilateral cooperation, we have seen a new model and an encouraging business climate that we will exploit to benefit our partnership," Saudi official said on arrival at Houari Boumediene International Airport . Qasabi, whose visit to Algiers is part of Thursday's 12th session of the Algerian-Saudi Joint Commission, was received by Minister of Industry and Mines Abdeslam Bouchouareb. Read More

EU to invest € 444 million in trans-European energy infrastructure projects

17/02/2017

BRUSSELS - The European Commission has received the green light from the 28 EU member states on Friday to invest € 444 million in major trans-European energy infrastructure projects, the EU executive said. "EU member states today approved the Commission's proposal to invest € 444 million in major European energy infrastructure projects," she said in a statement. According to the EU executive, 18 projects in the fields of electricity, gas and smart grids have been selected to contribute to the achievement of the Union's energy objectives through the interconnection of European energy networks. These projects should also contribute to enhancing security of supply and sustainable development through the integration of renewable energy sources throughout the EU. Read More

Review of energy cooperation with Italy, USA and Malaysia

17/02/2017

ALGIERS - Minister of Energy Noureddine Boutarfa met with Pasquale Ferrara, Joan Polaschik and Mohd Parid Sufian, ambassadors from Italy, the United States and Malaysia, in Algiers, on Thursday to discuss the opportunities Energy cooperation, according to a statement from the ministry. These talks focused on "cooperation and partnership relations in the field of energy, in particular in the field of renewable energies", the statement said.The Minister of Energy, who highlighted the future prospects for investment in structuring projects in Algeria, also addressed the different areas in which there are opportunities to exchange experiences and develop solutions to Common concerns, including training and transfer of technology and know-how, the same source added.

The creation of the subsidiary of Sonatrach in London motivated by encouraging profit margins

16/02/2017

ALGIERS - Prime Minister Abdelmalek Sellal said Thursday in Algiers that the creation in 1989 of Sonatrach's subsidiary in London for the commercialization of gas to Europe was motivated by the interesting profit margins and the deficit in terms of " Supply and import capacity. In a reply to an oral question from the Council of the Nation, read on his behalf by the Minister for Relations with Parliament Ghania Eddalia, the Prime Minister said that the creation of the London-based Sonatrach Petroleum Corporation (SPC) Of the Sonatrach Group was part of the national strategy for the commercialization of hydrocarbons abroad.Responding to the question about the purpose of the creation of a subsidiary of Sonatrach in the capital of the British kingdom, Mr Sellal said that this structure mainly operates in the trade and shipping of hydrocarbons. "It buys petroleum products from Sonatrach and markets them in all regions of the world." Read More

Algeria-Saudi Arabia: the need to promote investment in the tour-ism sector

16/02/2017

ALGIERS - Saudi trade and investment minister Madjed Abdullah Al Qassabi said Thursday in Algiers the need to promote and encourage investments between Algeria and the Kingdom of Saudi Arabia, particularly in the sector of tourism. In a statement to the press at the end of his meeting with the Minister of Land Management, Tourism and Handicraft, Abdelouahab Nouri, the Saudi minister said he proposed "a possible allocation of investment programs In the area of tourism between the two parties ", in view of" the vital role of this sector in the creation of permanent jobs for Algerian youth ". Read More

Meeting of the Algeria-EU Association Council on 13 March in Brussels

16/02/2017

BRUSSELS - The Algeria-European Union (EU) Association Council will meet on 13 March in Brussels, Minister of State for Foreign Affairs and International Cooperation Ramtane Lamamra said on Wednesday. "We agreed to hold our Association Council on 13 March and we also agreed on a series of visits by European officials to Algeria after the Council meeting," he said. Following his meeting with the head of European diplomacy, Federica Mogherini. The meeting will be chaired by Minister of State, Minister of Foreign Affairs and International Cooperation Ramtane Lamamra and EU High Representative for Foreign Affairs and Security Policy Federica Mogherini. Read More

Algeria-Saudi cooperation: signature of 8 agreements in different investment areas

15/02/2017

ALGIERS - Eight memorandums of understanding and economic partnership agreements were signed Wednesday in Algiers during an Algerian-Saudi business meeting in the presence of Abdeslam Bouchouareb, Minister of Industry and Mines, and the Saudi minister Of Trade, Madjid Ben Abdallah Al Qasabi .The agreements in question concern phosphate processing, natural fertilizer production, paper, pharmaceuticals and tourism and maintenance. Three agreements have been signed between the Saudi Arabian holding company "Radiola" and "Asmidal", belonging to the Algerian industrial group of mines (MANAL), for the development of the mining sector, the first concerns the phosphate processing industries, the second concerns The production of fertilizers from phosphate in the Oued Kebrit and Hadjar Soud regions and the third agreement deals with the transformation of natural gas for the production of natural fertilizers. Read More

Algeria selected for implementation of capacity-building program for countries in the region

14/02/2017

ALGIERS - The Minister of Territorial Development, Tourism and Handicrafts, Abdelwahab Nouri, said on Tuesday that Algeria has been chosen as the pole to host the program of capacity building of the countries of the north and western region In view of the "qualitative leap" in the de-velopment of statistical systems in the tourism sector. "The ambitious program that will be crowned in 2019, through the holding of a regional meeting to present and evaluate its results, will contribute to the strengthening of tourism training and qualification," said Nouri. Chaired the official launch of the International Organization of Tourism (ILO) program to strengthen the statistical capacity of countries in the region. Read More

Algeria-Spain sign two financial conventions

14/02/2017

 

ALGIERS - Two financial conventions were signed Tuesday in Algiers between the Ministry of Finance and Spanish financial institutions for the modernization of the information system and financial markets. The financing of these contracts will be charged to the Hispano-Algerian Development Fund for the Algerian debt-to-Spain conversion agreement signed in June 2006.The first contract between the Treasury and the General Directorate of the Treasury was awarded 7,2 million euros for the acquisition of financial market information systems (Algiers Stock Exchange and financial intermediaries). The Spanish consortium BME Innova-AFI (Analistas financieros internacionales). Read More

Contact Us

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

180 Piccadilly
London, W1J 9HF

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

21 Cloudesley Street
London, N1 0HX

Copyright © by abbc.org.uk All rights reserved.

ABBC Limited, Registered Office: Garden Flat, County Hall, London, SE1 7GN Registered in England and Wales No: 08189989

web design & web development by
LONDONSTORY Creative Studio