Algerian-Turkish Trade Exchanges Could Easily Reach 5 Billion Dollars Annually

Trade exchanges between Algeria and Turkey can “easily” reach 5 billion dollars a year, said Monday the Turkish Ambassador in Algiers, Her Excellency Mrs. Mahinur Ozdemir Goktas, calling on both countries to work for the conclusion of a free trade agreement that would promote a win-win partnership.

Speaking at the 4th edition of “The debates of the Algerian Confederation of Citizen Employers (CAPC)-International”, the Turkish Ambassador emphasized that the objective set by the presidents of the two countries to reach 5 billion dollars of trade was “possible” calling for the mobilization of Algerian and Turkish economic operators, especially those in the private sector, to achieve this goal.

She recalled, in this regard, that the amount of bilateral trade varies between 3.5 and 4.2 billion dollars in a state of equilibrium for both parties.

During this virtual meeting organized around the theme: “What type of partnership and cooperation between Algeria and Turkey in the perspective of the Post Covid-19”, Mrs. Goktas, stressed the quality of political and economic relations that can help increase the volume of trade exchanges between the two countries.

“We believe that the signing of a free trade agreement with Algeria will help shore up our trade in the framework of a win-win partnership,” the Ambassador said, considering that the buoyant Algerian market “is attractive” for Turkish investors.

According to the Turkish diplomat, more than 1,200 Turkish companies are active in Algeria, of which thirty (30) are direct investors with a sum of 3.5 billion dollars, employing more than 10,000 people.
On an African scale, Algeria is the second trading partner of Turkey and seventh in terms of direct investments.

With the aim of easing the contact and support of the operators of the two countries, the Ambassador announced the introduction of an electronic form enabling Algerian and Turkish business leaders to express their needs and expectations in terms of investment and business.

Mrs. Goktas also said that the Algerian-Turkish Joint Commission will be held in early 2021 during which a visit of a delegation of Turkish businessmen will be organized in Algiers.

Responding to questions from the participants in this conference concerning in particular the halt of some Turkish projects because of the Covid-19 pandemic, the Ambassador stated that special flights would soon be made available between the two destinations, at the rate of one flight per week, adding that authorizations have been obtained to carry out these services with strict compliance with health rules.

These special flights, she said, will enable major companies to pursue their projects and provide technical assistance to Algerian companies.