Algeria, India Chart a New Economic Path: Strategic Talks to Enhance Bilateral Cooperation

BY: Dr. Hana Saada

Algiers, Algeria | December 3rd, 2024 — On the sidelines of the 29th Partnership Summit 2024 in New Delhi, Algeria’s Minister of Interior Trade and Market Regulation, Mr. Tayeb Zitouni, accompanied by Algerian Ambassador to India, Mr. Ali Achoui, engaged in talks with the President of the Confederation of Indian Industry (CII), Mr. Sanjiv Puri. The discussions, initiated at the request of the Indian delegation, underscored the commitment of both nations to foster robust economic ties and capitalize on shared opportunities.

Minister Zitouni highlighted Algeria’s dedication to deepening bilateral relations in sectors of mutual interest, emphasizing the Algerian government’s readiness to provide comprehensive support and facilitate entry for Indian companies keen on investing in Algeria. He described Algeria as a gateway to African markets, offering immense potential in key sectors such as heavy industry, agriculture, and advanced technology.

During the meeting, the Algerian delegation stressed the importance of leveraging knowledge exchange and industrial collaboration to enhance economic synergies. Minister Zitouni expressed optimism about the role Indian expertise can play in Algeria’s ambitious economic diversification agenda, while underscoring Algeria’s strategic position as a hub for regional trade and investment.

Mr. Sanjiv Puri, President of the Confederation of Indian Industry, commended Algeria’s proactive approach to economic partnerships and its efforts to foster a business-friendly environment for international investors. He expressed confidence in Algeria’s economic potential, particularly its initiatives in industrialization, digital transformation, and sustainable agriculture, describing them as areas ripe for collaboration.

Ambassador Ali Achoui reinforced Algeria’s commitment to its international partnerships, emphasizing the country’s open-door policy towards fostering sustainable and inclusive growth through foreign investments. The ambassador underlined Algeria’s unique blend of natural resources, skilled labor, and strategic geographic positioning as unparalleled assets for prospective investors.

The 29th Partnership Summit 2024 served as a pivotal platform for advancing Algeria-India economic relations, with both sides expressing strong determination to transform discussions into actionable agreements. The Algerian delegation’s participation reinforced Algeria’s role as a proactive player on the global economic stage, committed to building enduring partnerships and unlocking new horizons for mutual prosperity.

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