Iran, Algeria call for expansion of economic ties

Iran's Economic and Finance Minister in a meeting with his Algerian counterpart called for boosting economic ties between the two countries. Seyyed Shamsuddin Hosseini said bilateral economic ties are not in an appropriate level like political relations, so they should be expanded in different economic fields. The visiting Iranian minister said ways of expansion of economic ties should be considered seriously, IRNA reported.

• He added Iranian engineers with their scientific abilities and experience are eager to participate in infra-structure and building projects in Algeria and Iranian businessmen are also interested in sharing business with the Algerian companies, so related agreements on the mutual cooperation between the two countries have been prepared.
• On the reasons of inadequate level of economic ties, Hosseini said one reason is lack of a banking network between the two countries adding that an Iranian bank named “Export Development Bank” which was to open a branch in Algiers faced with a problem and officials of both countries are working to settle the problem.
• The Algerian Minister, for his part, expressed his agreement with his Iranian counterpart and said in expansion of bilateral economic and trade ties, no problem should interfere.
  He added Algerian president has ordered that the reasons for the low level of economic relations between the two countries should be recognized promptly.