President of Algeria Abdelmadjid Tebboune met with Qatar Chamber officials in Doha on Monday.
Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari attended the meeting alongside with several board member including Abdulrahman Al Ansari, Dr Mohamed bin Jawhar Al Mohamed and Khalid bin Jabor Al Kuwari.
During the meeting, Tebboune affirmed the strong relations between Qatar and Algeria, noting that there is a common desire to boost such relations and develop them in all fields.
He called on Qatari investors and businessmen to invest in Algeria, noting that there is a myriad of investment opportunities available in many sectors such as services, real estate and industry.
The Algerian president affirmed that the investment environment is witnessing significant development through improving the legal and legislative structure, indicating that a slew of laws will be issued soon to further support the investments and provide facilities for investors and businessmen.
The meeting touched on the possibility of exchanging expertise between the Qatari and Algerian private sectors and organising a business visit of Qatari businessmen to Algeria to get acquainted with the available investment opportunities.
For his part, Mohamed bin Twar praised the robust relations between Qatar and Algeria and the common desire of both parties to develop them especially in economic and commercial aspects, stressing that Qatari businessmen are keen to direct their investment to Algeria.
As for trade between both countries, Kuwari said the two countries’ bilateral trade grew by 12 percent from QR132 million in 2020 to QR148 million last year, noting that despite this growth the trade exchange between the two countries is still below expectations.
He noted that there are about 52 Qatari-Algerian firms operating in Qatar in many sectors including trade, contracting, services, fashion, furnishings, interior design, and education, pointed out that the Qatari market welcomes the Algerian companies, as there are a plenty of opportunities for establishing joint ventures between companies from both countries whether in Qatar or Algeria.
He elaborated on the successful models of Qatari-Algerian partnerships such as the Algerian-Qatari Steel Company, which owns the Bellara Steel Complex in Jijel province, an investment cost of about $2 billion, and Ooredoo Group, which has achieved remarkable success in Algeria’s telecommunications sector, in addition to several important investments by Qatari businessmen in many sectors.