Algeria plans to exploit Algerians’ real-estate in Spain

Algerian industry minister Abdesselam Bouchouareb is expected to go to Spain on Monday accompanied by a delegation of Algerian businessmen and investors. They will attend the Algerian-Spanish Business Forum. The minister will talk about the possibility of launching an air lift between Spain and Algerian west provinces, Echorouk has learnt.

The Forum is also expected to deal with real-estate and thousands of apartments in Alicante in Spain bought by Algerian businessmen since 2008. The government plans to exploit them economically to concretise Algerian investments.

Algeria aims at reactivating partnership projects with the European Union including Spain which is its main partner. Their trade volume is estimated at more than $15 billion per year.

The government plans to boost investments out of hydrocarbons as oil prices decrease.

Mohamed Bairi, a member of the Enterprise Chiefs Forum told Echorouk the meeting is meant to seal economic partnerships with Spanish companies and benefit from their experience out of hydrocarbons.

Algerian-Spanish cooperation has been limited in energy field for 20 years.