Opening of a permanent exhibition of Algerian products in Mauritania

The Minister of Trade and Export Promotion, Mr Tayeb Zitouni, confirmed, on Wednesday, in Nouakchott, capital of Mauritania, that the opening of the “Union Bank of Algeria” and a permanent exhibition of Algerian products in the Mauritanian capital is a “historic achievement”, stressing that Algeria has moved from “rhetoric to action” with regard to its openness to countries in Africa.

Mr Zitouni’s statement came after the inauguration of a permanent exhibition of Algerian products, affiliated to the Algerian Exhibition and Export Company (SAFEX), called “Export”, in the presence of the Minister of Finance, Laziz Fayed, along with the Mauritanian Minister of Finance, Islemou Ould Mohamed Ambadi, and the Mauritanian Minister of Trade, Industry, Handicrafts and Tourism, Lamrabet Ould Panahi, the Governor of the Central Bank of Mauritania, Mohamed Lamine Ould Dahabi, and the Mauritanian Minister of Trade, Industry, Handicrafts and Tourism, Lamrabet Ould Banahi, the Governor of the Central Bank of Mauritania, Mohamed Lamine Ould Dahabi, and the President of the National Union of Mauritanian Employers, Mohamed Zine El Abidine Ould Cheikh Ahmed, in the presence of the Algerian Ambassador to Mauritania, Mohamed Ben Attou.

Mr Zitouni said that the inauguration of this exhibition is “a historic day for the ancient and strong Algerian-Mauritanian relations, by virtue of history, geography and the common destiny of the two countries”.

He added that “the objectives of the two countries are defined by a common and complementary strategy,” adding that bilateral relations “have undergone a qualitative change under the leadership of the presidents of the two countries,” Abdelmadjid Tebboune and Mohamed Ould Cheikh Al-Ghazouani.

He further stated: “The first step we will take from Mauritania, which is to open the first Algerian bank abroad, specifically in Nouakchott, which will make it easier for economic operators to export their products and services, and establish partnerships with their Mauritanian counterparts and with other countries without problems in the localization of capital, financing, financial support and financing.” Commercial and investment operations,” he stressed, saying: “Today we have moved from rhetoric to action, as the presence of an Algerian bank in Nouakchott is today a reality.”

In addition, the Minister added: “We have also given Algerian distributors and their Mauritanian partners a large space to start real commercial operations”. He continued: “We have been present on the Mauritanian market throughout the year”, expressing his hope that “this process will develop into a real partnership”.

Mr Zitouni pointed out that Mauritania is part of the West African region, which includes a large market of more than 300 million people. He hoped that the launch from Mauritania would facilitate access to this market, recalling that by 2050, Africa will have a quarter of the world’s population.

For his part, Ould Banahi confirmed that Algerian-Mauritanian relations have taken “a practical step on the ground” thanks to the opening of an Algerian bank in Mauritania, recalling that these relations “have witnessed a new development since 2021 after the visit of the Mauritanian president to Algeria.”

He continued: “The political will of the leaders of the two countries has been confirmed to develop and advance bilateral relations until they reach a level that meets the aspirations of the two peoples.”

He emphasized that the Bank of Algeria in Mauritania will work to facilitate and accelerate bilateral trade exchanges, noting that the Algeria-Nouakchott commercial sea line, the Tindouf-Zouérat trans-Saharan road project and other projects will enable bilateral relations to reach the required level.