Monday 24 February 2025 
✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 23rd, 2024 — Ahmed Attaf, the Minister of Foreign Affairs and National Community Abroad, emphasized the importance of economic diplomacy in fostering investment. Speaking at a seminar held at the El Aurassi Hotel on the role of business councils in enhancing economic diplomacy, Attaf stressed the need to invigorate these councils for collective performance.
Business Councils: Catalysts for Economic Diplomacy
In his address, Minister Attaf underscored that business councils are vital instruments of economic diplomacy. He called for a renewed dynamic to maximize their potential:
“Business councils, established with several friendly and partner countries, remain recent additions to the tools framing economic relations. These councils have demonstrated their importance as platforms for strengthening partnership ties,” Attaf noted.
He further emphasized the need to assess the role and capacity of these councils to bring qualitative value. This involves addressing any obstacles that may hinder their effectiveness.
Positive Economic Indicators
Highlighting Algeria’s positive economic trajectory, Attaf pointed to several key indicators:
– Economic Growth: The country is experiencing a growth rate of 4.2%.
– GDP: Algeria’s Gross Domestic Product (GDP) stands at approximately $260 billion.
– Foreign Exchange Reserves: Reserves are estimated at $70 billion.
– Non-Hydrocarbon Exports: Expectations are set for these exports to reach $10 billion by the end of the year.
“These results are not insignificant but the fruit of policies, choices, and structural reforms decided by the President of the Republic. These have translated into major priorities,” Attaf remarked, citing sectors such as agriculture, industry, and mining that have benefitted from these reforms.
Strategic Reforms and Future Goals
Minister Attaf also spoke on the President’s efforts in moralizing foreign trade and enhancing the attractiveness of Algeria’s business climate. He called for the preservation of these achievements through intensified future efforts and the bolstering of business councils’ roles as tools of economic diplomacy.
Attendees and Contributions
The seminar was attended by notable figures, including:
– Tayeb Zitouni, Minister of Commerce and Export Promotion
– Major General Abdelhafid Bakhouche, Director General of Customs
– Mustapha Hidaoui, President of the Higher Council for Youth (CSJ)
– Nourredine Benbraham, President of the National Observatory of Civil Society (ONSC)
– Rabia Kherfi, President of the National Economic, Social, and Environmental Council (CNESE)
– Representatives of professional organizations
This gathering underscored a collective commitment to leveraging economic diplomacy for national and international advancement, signaling a strategic move towards enhanced investment and economic integration.
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