The UAE Minister of Economy expected that the UAE investments in Algeria will go up to $50 billion (Dh183.6bn) over the coming years.
Sultan bin Saeed Al Mansouri underlined the importance of Algeria due to its geographical location and huge potentials, which will make the country a destination for investments and starting point of exports, similar to the UAE.
Al Mansouri and Algerian Minister of Finance Kareem Judi officially opened the sixth meeting of the UAE-Algerian Joint Committee here yesterday. Delegations representing both countries attended the meeting, which seeks to enhance bilateral relations between the two countries with emphasis in the fields of economy, trade and investment.
Al Mansouri said the meeting comes as part of the continuing efforts to bolster joint co-operation between the UAE and Algeria, and there are several crucial topics on the agenda of the meeting.
Al Mansouri clarified that discussions with the Algerian side concentrated on industry, service, agriculture and energy sectors.
Judi praised the economic boom in the UAE.
He said the meeting with Al Mansouri gave the Algerian delegation a chance to evaluate the relations between the two countries and discuss the legal framework in the economic and financial field to support investments in both the countries. (Wam)