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Algeria tends to make Germany its economic ally

Xinhua, February 22, 2017 Adjust font size:

Algeria on Tuesday said it is willing to make Germany its economic ally, as the two nations held their 6th Joint Committee in Algiers.

"Germany remains a longstanding partner for Algeria, particularly in the fields of industry, engineering and petrochemicals," Algerian Industry Minister Abdesslam Bouchouareb told a press conference with visiting German Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy Uwe Karl Beckmeyer.

He said the North African nation is working on diversifying its economy in a bid to curb its dependence on oil revenues, saying "Algeria is keen to make Germany its economic ally, not only in the region, but in all Africa."

The Algerian minister added that 6th Algerian-German Joint Committee was an opportunity to review bilateral relations and discuss potential investment projects, as well as examine obstacles impeding the development of joint projects.

For his part, Uwe Karl Beckmeyer urged German operators to enter the Algerian market, reaffirming the commitment of firms already present in the North African nation to assisting local enterprises, particularly those activating in infrastructures and energy.

"We have submitted to the Algerian government a proposal to broaden the services provided by Germany to other areas, especially in infrastructure and energy projects... which would be beneficial for both countries," the German minister said.

The oil-rich North African nation is working on diversifying its economy, as part of the government plan to reduce dependence on hydrocarbons revenues.

Over 200 German companies are already established in Algeria, while trade exchange between the two nations hit 3.07 billion U.S. dollars in 2016, according to official figures. Endit