Algeria-Egypt: Trade Exchange Between the Two Countries Reaches $1Billion
The bilateral relations between Algeria and Egypt are historical, and rooted in the depth of time, at the same time, they are dynamic, rich and diverse, and they have promising prospects on the path of growth and prosperity, under the continuous sponsorship of His Excellency President Abdel Fattah al-Sisi and President Abdelmadjid Tebboune, the Egyptian Ambassador to Algeria, Mokhtar Warida, said during a ceremony on the occasion of the celebration of the 71th anniversary of the July 23 revolution.
Ambassador Warida added that the evidence of the strength of relationships between Egypt and Algeria is “the frequency of Egyptian visits at the ministerial level, as well as the intensive visits of senior officials to brotherly Algeria over the past period, in all political, economic, cultural, parliamentary and sports fields.”
The ambassador explained that Egyptian-Algerian relations “focus on ensuring the strength and unity of the Arab world, based on the fact that Arab national security is an indivisible whole, and out of keenness to establish strategic partnerships that enhance the integration of latent capabilities to establish a solid system capable of facing common challenges and dealing with emerging international crises.”
About economic cooperation, the Egyptian diplomat stated that “the volume of trade exchange between Egypt and Algeria increased by 26% during 2022 to reach about one billion dollars, and we hope to continue increasing it during the current year, especially in light of the great advantages and facilities provided by the Egyptian government to major Algerian, Arab and foreign companies to invest in Egypt.”
The ambassador congratulated Algeria on membership of the UN Security Council and on the success of organizing the Arab Games 2023 in Algeria, in which his country participated with a concrete sports mission, in addition to the successful launch of the national strategy for transparency, prevention and combating corruption, which Egypt participated in its official launch last week.
