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Lord Richard Risby: “Transition Brexit Period Precludes Us From Signing Trade Agreement With Algeria”

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Lord Richard Risby: “Transition Brexit Period Precludes Us From Signing Trade Agreement With Algeria”

 Lord Richard Risby, the trade and economic envoy of British Prime Minister Theresa May to Algeria, said the transition after Britain’s exit from the European Union (Brexit) has prevented the UK from signing a direct trade agreement with Algeria.

In a response to a question by Echorouk’s journalist during a meeting with a number of national media outlets at the British Embassy in Algiers, Lord Richard Risby said on Wednesday that the Britain’s exit from the European Union, planned for March 2019, is still being addressed through sustained negotiations by the two sides.

“However, this  does not prevent us from strengthening our bilateral relations and pursuing discussions with Algeria with British investors still continuing to come to Algeria to consult and to sign investment contracts,” Lord Richard Risby said.

“We are eagerly awaiting the amendment to the hydrocarbons law in Algeria as early as next year … which will determine how this sector will be reorganized in Algeria so that it can respond to the aspirations of the foreign partners,” he further stated.

The British official also said that he had confidence in the latest comments of the Algerian Energy Ministry and the Sonatrach Group regarding the foreseen amendments to the Algerian hydrocarbons law.

Lord Risby revealed that the main reason for his visit to Algeria this time was to participate in the “Algeria Energy Future” Forum, which saw a well-regulated organization with the presence of many high-profile stakeholders and decision-makers in the energy sector at the global level.

He also invited the Prime Minister, Ahmed Ouyahia and Energy Minister Mustapha Guitouni, to visit London next January to expound to the British energy partners the vast investment opportunities offered by Algeria in the energy sector and to connect with British energy companies.

“Algeria has been a reliable supplier of energy to Britain, especially natural gas,” he said. “We have never known any problem in getting this vital resource from Algeria”, he underscored.

In this line, Lord Risby referred to the energy-related agreement signed of late between Sonatrach and British Petroleum (BP) meant to launch new exploration and exploitation of non-conventional hydrocarbons, noting that this outstanding bilateral agreement reflects the confidence placed by Sonatrach in the British energy companies.

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