Cooperation: 3 Billion Dollars’ Volume Of Egyptian Investments In Algeria

The Executive Director of the Egyptian Businessmen Association, Mohamed Yousuf, on Sunday revealed that the size of the Algerian and Egyptian trade exchanges amounted to more than $ 1 billion dollars.

Mr Mohamed Yousuf, who was the guest of a morning program on the national “first radio channel” affirmed that this figure does not reflect however the real size of the investment relations aspired to by the two countries in the framework of the Arab exchanges, as well as at the African level as the latter are considered among the largest African countries’ economies.

He added that Egypt was looking through its active participation in the African Forum for investments and business of Algiers, to shore up relations with Algeria, by virtue of the two countries possessing a heavy weight influence in North Africa as well as in the Middle East.

He described the Algeria-Egypt relations, as having a unique and diverse character, by calling on the two countries’ businessmen and economic operators to do more for the consolidation of this relationship in order to achieve fruitful and strong economic spin-offs for the mutual benefit of the two brotherly countries.

Referring to the high quality of relations between the two countries, Mr Mohamed Yousuf pointed out that Egypt aspires to foster future projects in a sound cooperation drive with Algeria to be expanded to many areas, especially hydrocarbons, knowing that the volume of Egyptian investments in Algeria is estimated to be worth more than $ 3 billion dollars, as he put it.