Algeria seeks more EU investments

LUXEMBOURG — The EU-Algeria Association Council met here on Tuesday to assess the progress made in their relations and agreed to deepen ties.

• The two sides discussed matters of common interest, like the financial crisis, and international issues such western Sahel, fight against terrorism, EU-Africa Summit in November in Tripoli, the Middle East peace process, economic and political reform, and energy cooperation.
• Speaking to reporters after the meeting Spanish foreign minister Miguel Moratinos, whose country holds the current EU Presidency, said that EU and Algeria are making progress in their relationship and not going backwards.
• “Algeria wants more investments. This is why the EU and Algeria will be holding an investment forum,” he said.
• On his part, Mourad Medelci, Algerian Foreign Minister, noted that Algeria has invested more on its own territory in hydrocarbon products than the EU has, although it represents more than 50 percent of hydrocarbons going from Algeria to the EU.
• “It is in the non-hydrocarbon sector that Algeria has concerns.
• Many efforts still need to be made, all agree with that, so that European investments in Algeria can grow in both in volume terms and in terms of much greater diversification of products and services,” he added. 

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