Algerian-French cooperation : French Secretary of State for Foreign Trade Anne-Marie Idrac asserted the necessity to give a “new impetus”

Minister of Industry, SME and Investment Promotion Mohamed Benmeradi and French Secretary of State for Foreign Trade Anne-Marie Idrac agreed on Monday, September 20, the necessity to give a “new impetus” for Algerian-French cooperation “in line with the joint will expressed by the two sides.”

Benmeradi, who met with  the French minister, stressed that the relationship “should further strengthened for new investments, considering the need to diversify our industrial production, especially as a number of restrictions were removed recently,” according to a ministry statement.  

On Sunday, September 19, Large French companies operating in Algeria expressed their wish to extend investments in Algeria asking for more faciltions from the country’s government.

“We have been waiting since 2007 the execution of a petrochemical project in Arzew (Oran province, 432km west of Algiers), estimated at five billion dollars and due to ensure technology transfer and thousands of jobs,” said Total-Algeria’s representative Pascal Petteau, who voiced wish to see the project progressing.

The Total top executive was attending a working meeting chaired by Trade Minister Mustapha Benbada and French Secretary of State for Foreign Trade Anne-Marie Idrac, on a two-day visit to Algiers. “It’s time to launch Total project,” Benbada said.

Economic ties, in particular,  between Algeria and France have remained solid.

Algeria is still France’s top African trading partner, and Mr Sarkozy, during his third visit to Algeria in 2007 signed deals worth up to $4bn (£2bn) during his trip.

As Algeria slowly tries to open up its economy, the French face increasing competition from countries including the US, Russia and China.

There are hundreds of companies, especially in southern France, who live to a large extent from their dealings with Algeria, because  there’s a proximity in language, business, and culture.  Many businessmen think that Despite the political arguments, ties will remain strong.