Roundup: Algeria, Denmark pledge new impetus to bilateral economic ties

ALGIERS, March 6 (Xinhua) -- Algeria and Denmark on Tuesday pledged new impetus to their bilateral economic cooperation, as Danish Foreign Minister Anders Samuelsen ended a three-day visit to the North African nation.

In his opening speech at the Algerian-Danish Business Forum in Algiers, Samuelsen expressed his country's willingness to develop its economic and trade relations with Algeria by seizing "abundant investment opportunities in various sectors which are discussed during this business forum."

He argued that Danish companies established in Algeria in sectors such as the pharmaceutical industry, energy and transport, are keen to further develop their activities.

The Danish top diplomat stressed that "the large number of heads of companies that accompanied him during his three-day visit to Algeria, highlighting a great interest in the Algerian market.

He added that the cooperation and exchange already existing between Algerian and Danish companies could serve as a "powerful platform" to boost bilateral economic relations.

He suggested that "identifying the right sector and the right partner" is decisive factor for successful investments in Algeria.

Algerian FM considered that this forum will contribute to establishing a new partnership between Algeria and Denmark by strongly involving the businessmen of the two countries, indicating that Denmark has a proven economic dynamism and palpable progress of its investments around the world.

Messahel further noted that the Danish know-how and technology goes beyond the European continent, as it became part of the world's major trade flows.

He invited Danish companies to come to invest in Algeria, to take advantage of the countless assets, significant economic potential, as well as economic openness to Europe, the Arab world and Africa.

The Danish-Algerian Business Forum concluded by signing a Memorandum of Understanding on Bilateral Cooperation between the Algerian Forum of Enterprise Leaders (FCE) and the Danish Industry Federation.

As for the content of the memorandum of understanding, it is a question of providing a framework of cooperation in which both parties aim at establishing a strategic alliance of cooperation between the two employers' organizations as well as the realization of projects for the benefit of the companies of both parties.

It also includes the formulation and implementation of business strategies, the exchange and transfer of successful experiences such as the implementation of local development projects, particularly in the agri-food, renewable energy, energy and energy sectors, industry and tourism as well as training.

It also provides companies and investors with support and support services and the development of monitoring and evaluation mechanisms to help improve the performance of companies and their managers.

The visit of Sameuelsen to Algeria also saw the laying of the foundation stone for the construction of insulin production complex located in Blida province, near Algiers, as part of a partnership between Algerian state run pharmaceutical group Saidal and the Danish giant of Novo Nordisk.

With a budget worth 73.4 million dollars, the project extends over an area of 0.9 ha, and due to output 45 million units of insulin a year, with 150 direct job positions and another 300 indirect job opportunities.

Novo Nordisk laboratories and Saidal have already launched two insulin production plants in Constantine and Tizi-Ouzou provinces.

In the field of hydrocarbons, the Danish oil company Maersk Oil has been investing in the oil and gas projects in Algeria for many years. Enditem