BY: Hana Saada
ALGIERS- Economic and financial relations between Algeria and the United Kingdom were at the center of the discussions that took place between the Minister of Finance, Mr. Laaziz Faid, and the Ambassador of the United Kingdom, Mrs. Sharon Wardle, whom he received this Wednesday, May 3, 2023, at the headquarters of the Ministry of Finance.
The two parties reviewed the state of economic relations between the two countries and jointly sought the means and actions to be taken to consolidate them.
The Minister of Finance and his guest discussed the technical assistance cooperation in the financial sector, which has reached a very advanced stage, and agreed to develop and direct it to other centers of interest.
The project of reforms undertaken by Algeria to meet the challenges of economic and social development was also discussed by the two interlocutors. Mr. Faid expressed, on his part, the wish to see British companies more present on the Algerian market, especially since Algeria has made major legislative changes after the adoption of the new framework governing investment, ensuring better guarantees and more facilities and transparency.
For her part, the Ambassador of the United Kingdom did not fail to highlight the efforts of the Algerian State in favor of a significant improvement in the business climate and noted that, despite the major upheavals experienced by the world today, Algeria is considered a model of stability.
Thus, the British government would like to further boost economic exchanges and cooperation in general with Algeria, especially after Brexit, assured Ms. Wardle who took advantage of her meeting with the Algerian Minister of Finance to present the initiative ”Developing Countries’ Trading Schemes (DCTS),” which the UK would like to launch in the near future to boost trade with developing countries.
The two senior officials agreed, at the end of the meeting, to continue their dialogue and develop win-win bilateral cooperation.
