Algerian FM Attaf Meets in Washington with Economic Operators and American Businessmen, Strengthening Algerian-American Business Ties
BY: Hana Saada
Washington, D.C., August 11, 2023– Ahmed Attaf, the Algerian Minister of Foreign Affairs and the National Community Abroad, concluded a significant working visit to Washington where he engaged in constructive discussions with economic operators and American businessmen, members of the Algerian-American Business Council. The visit was conducted under the directive of President Abdelmadjid Tebboune, aiming to foster closer economic ties and promote bilateral investment opportunities between Algeria and the United States. A press release issued by the Ministry of Foreign Affairs highlighted the key points of the discussions held during this crucial encounter.
During the meeting, Minister Attaf delivered an insightful presentation that shed light on Algeria’s current economic dynamics, showcasing the promising reforms instigated by President Tebboune. The presentation encompassed an overview of the remarkable development indicators achieved in recent years, which collectively underscored a significant upswing in Algeria’s economic and financial situation.
Moreover, the Minister expounded on Algeria’s ambitious policies to encourage and attract foreign investment, accentuating the various legal frameworks that have been established to this end. He particularly emphasized legislative changes in sectors like hydrocarbons, finance, and credit, citing the positive feedback from the American administration as evidenced by a report published on July 26, 2023.
In addition to the governmental initiatives to cultivate a favorable business environment, Minister Attaf highlighted Algeria’ strategic geographic position. He positioned Algeria as a gateway to neighboring markets in Africa, Europe, and the Arab world, facilitated by free trade agreements forged with these regions. The Minister underscored the infrastructural enhancements aimed at bolstering connectivity with neighboring countries, including port expansions, railway network advancements, and the promotion of various transportation services.
Algerian-American Partnership: A Continuation of Success and Prospects for Growth
Minister Attaf eloquently traced the trajectory of the Algerian-American economic partnership, identifying it as a remarkable success story spanning over four decades. The partnership, heavily concentrated in the energy sector, has seen 90% of American investments directed towards energy-related projects. Attaf projected that the cooperation in this domain holds significant potential, given Algeria’s rich reserves of gas and renewable energy prospects, juxtaposed with the technological prowess and economic might of the United States.
He advocated for the exploration of new avenues for bilateral cooperation, urging American entrepreneurs to tap into Algeria’s resources, such as steel, zinc, and phosphate. Agriculture, in particular, was emphasized as an unexplored frontier for investors, particularly in the southern regions of Algeria. The Minister proposed a grand opportunity for American investors to participate in modernizing agricultural techniques, irrigation systems, agribusiness infrastructure, and technology integration.
In his closing remarks, Minister Attaf conveyed an inviting message to American businessmen, asserting that investing in Algeria equates to a future brimming with promise in a nation that ensures all conditions for success. The Minister’s statements echoed the sentiment that Algeria is a dependable and rewarding partner in the realm of economic collaboration.
The meetings held in Washington stand as a testament to the resolve of Algeria and the United States to further strengthen their economic ties, embrace new ventures, and embark on a journey of mutual growth and prosperity.
