Canadian Delegation Visits Algerian Economic Renewal Council (CREA) Amidst 55th Algiers’ International Fair
✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 26th, 2024 — On Tuesday, a Canadian delegation comprising several business leaders visited the headquarters of the Algerian Economic Renewal Council (CREA). The visit, led by Canadian Ambassador to Algeria, Michael R. Callan, is part of the delegation’s participation in the 55th edition of the Algiers’ International Fair (FIA), running from June 24 to 29 at the Exhibitions Palace (Pins Maritimes) in Algiers.
Exploring Business Opportunities
The delegation’s visit to CREA aimed to foster dialogue between Canadian and Algerian business leaders, exploring various opportunities across several sectors including pharmaceuticals, mining, renewable energy, agro-food, agriculture, and training. This initiative is also a precursor to a significant business mission from Algeria, with about sixty companies set to travel to Montreal from July 7 to 14. This mission seeks to enhance economic, commercial, and investment relations between Algeria and Canada.
Kamal Moula, the president of CREA, highlighted the substantial interest shown by the Canadian business community in the Algerian market. “The significant number of Canadian business leaders present here underscores their particular interest in the Algerian market, emphasizing the attractiveness of Algeria’s investment law,” he stated in a statement to APS.
Building Connections and Exploring Potential
The agenda included a rich array of activities, site visits to industrial facilities, meetings with institutions, and networking opportunities with Canadian economic and investment entities. Moula emphasized that these engagements aim to identify business opportunities and develop partnerships between the two countries. “They come to explore business opportunities and we are facilitating contacts with their Algerian counterparts to discuss potential collaborations,” Moula added.
Ambassador Michael Callan also commented on the interest of Canadian investors in Algeria’s investment climate. “Algeria offers attractive conditions for foreign investors,” he remarked, noting that the Algerian Investment Code presents compelling opportunities for Canadian operators. He pointed out that the visiting delegation represented various sectors, including new technologies, agriculture, aeronautics, and general training.
Fostering Deeper Economic Ties
The planned business mission to Montreal will feature a comprehensive program, including site visits, meetings with economic institutions, and interactions with Canadian investment bodies. The aim is to stimulate relations and explore further investment opportunities between the two nations.
Ambassador Callan reiterated the diverse interests of Canadian investors in Algeria, noting that sectors ranging from high-tech and agriculture to aerospace and education are of significant interest. This bilateral engagement underscores a growing commitment to enhancing economic ties and leveraging mutual benefits for both Algeria and Canada.
In conclusion, both nations are keen on strengthening their economic bonds, with ongoing dialogues and planned missions set to pave the way for deeper collaboration and shared growth opportunities.
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