Algerian Market is experiencing strong competition by foreign companies, Pierre Lellouche

Algiers- French Secretary of State in charge of Foreign Trade Mr. Pierre Lellouche admitted here on Monday, during the opening of the Algeria-French Partnership Forum, that the Algerian market is experiencing tough competition by foreign companies.

“Share of the French companies in the Algerian market dropped from 30% since a few years ago to 15% currently, noting that the Algerian market is no longer monopolized by French institutions as it was in the past, but it notices an intense competition, especially by Chinese and Turkish companies”.

In this regard, the French official added that the Algerian market, currently, contains 450 French companies representing an investment value that exceeds 2.5 b Euros.

On the other hand, the French Secretary of State asserted that Algeria has everything to become an international and regional market but needs a stable legal framework and more clarity to encourage more foreign direct investments.

In the same regard, Pierre Lellouche explained that Algeria has important human resources and material means to realize its economic policy aiming at the construction of a diverse and productive economy.

“France stands by Algeria in order to raise the challenge of building a strong and productive economy under partnership for the benefit of both partners and will always help Maghreb countries as well”.