South Africa urged to invest in Algeria to boost trade
Algeria is a strategic [partner] country for South Africa, being the largest trading partner in the North Africa region and accounting for 43% of South Africa’s total trade with North Africa from 2011 to 2015.
For this reason, Department of Trade and Industry Africa bilateral and economic relations director Lebogang Makoloi called on South African companies to invest in Algeria, as the country “is opening up for opportunities”.
Speaking on the sidelines of the African Investment and Business Forum that is under way in Algiers, Algeria, he noted that South Africa has been championing a developmental integration agenda which rests on three pillars: market integration by promoting more intra-Africa trade, industrialisation by building more productive capacity and infrastructure development.
Algeria Ambassador to South Africa A-el-N Belaid added there were important opportunities for strengthening bilateral economic relations in all sectors and there was an opportunity to effectively promote bilateral economic relations in Africa.
He highlighted that the Algerian government wanted South African businesspeople to participate in the business forum because of the historical relationship between the two countries.
Belaid also urged South African companies to maintain contact with the partners they meet with during the forum and use the services of the embassies to do that.
“Algeria is historically committed to Africa. We are proud of belonging to this continent,” he added.
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