Algerian, French businessmen seek investment opportunities

After previous meetings between high-ranking officials of the Foreign Ministries of Algeria and France, this time it was the turn of the economic financiers, with the meeting of the Algerian-French Business Council, Monday, February 5, 2024, in the French capital, Paris, headed by the President of the “Council for the Renewal of the Algerian Economy”, Kamel Moula, and his French counterpart, Patrick Martin, “President of the French Institutions Movement” (MEDAF).
The meeting placed at the top of the agenda the achievement of some objectives, including the improvement of the business climate, the development of direct investments and the transfer of technology, a sensitive point that caused the French side to be embarrassed by its Algerian counterpart every time it raised the demand to protect its economic interests in the former colony, as well as “the official establishment of the Algerian-French Business Council (CAAF) between the two parties and the definition of joint working arrangements to activate it”.
The Paris meeting between representatives of the “Patrona” (business employers) in the two countries comes about a year after the meeting held in Algeria, and comes in light of the complete silence on the postponed visit of President Abdelmadjid Tebboune to France, in response to the one that led his French counterpart, Emmanuel Macron, to Algeria in the summer of 2022.
The meeting also aimed to “encourage co-production partnerships and establish joint projects between members of the two employers’ organizations,” according to a statement circulated by the Algerian Council for Economic Renewal, which also spoke of “priority sectors” such as agriculture, the food industry, energy and digitalization, and the establishment of a system of “sectoral missions for business leaders in The two countries will visit production units to improve knowledge of each other’s industrial or agricultural capabilities.
The French presence in Algeria, especially in its aspect related to the economy, has witnessed a dramatic decline compared to the years before 2019, due to the political choices made by the Algerian authorities after the fall of the regime of former president Abdelaziz Bouteflika, and despite the attempts of the French side to restore these relations in a way that guarantees the continuation of its economic interests. However, there are developments that are preventing the trend from returning to its normal course.
The meeting of Algerian and French businessmen aims to explore business opportunities, work to strengthen relations between the private sectors of the two countries, seek to improve the business climate, and prepare for the fifteenth session of the Algeria meeting, scheduled from the fifth to the seventh of March next year.
Observers believe that the meeting between Algerian and French businessmen is a sign of the beginning of preparations for President Tebboune’s postponed visit to France, which the Algerian side insists will be fruitful for the Algerian economy, especially since the French side is accused in Algeria of not delivering what was expected of it because of its shortcomings. Its investments in some service sectors (such as banking and insurance) are profitable but do not generate wealth, as is its unwillingness to transform technology according to the “winner-takes-all” rule, which the French have often repeated but which remains an empty promise.
The Minister of Foreign Affairs and National Community Abroad, Ahmed Attaf, had sent coded messages to the French side in an interview with the Qatari Al Jazeera channel, when he stressed that “sensitive issues require in-depth discussions before the presidential visit” on some outstanding issues, including the memory and mobility issues. People (visa), economic cooperation and the issue of French nuclear explosions in the Algerian Sahara, as well as the return of some of Emir Abdelkader’s looted items in French museums.
It is noteworthy that the Secretary General of the Ministry of Foreign Affairs, Lounes Magramane, met with his French counterpart, Anne-Marie Decaux, last September and the meeting reportedly discussed preparations for President Tebboune’s planned visit to France.