Minister Aoun Encourages Increased South Korean Investment in Algeria during Ambassadorial Meeting
BY: Dr. Hana Saada
Algiers, April 8, 2024 – In a bid to foster deeper economic ties and explore avenues for enhanced investment, Mr. Ali Aoun, Minister of Industry and Pharmaceutical Production, welcomed His Excellency Mr. You Ki Jun, the Ambassador of the Republic of Korea to Algeria, for discussions on Monday.
The meeting provided an opportunity to review the existing cooperation between Algeria and South Korea, particularly within the realms of pharmaceutical industry and production. Minister Aoun underscored the importance of broadening and reinforcing the cooperation between the two nations to encompass various sectors of industry across diverse value chains.
During the discussions, Minister Aoun emphasized the imperative of collaboration in key industrial domains such as automotive, electronics, and household appliances. He highlighted the potential for sectoral development and technology transfer through such partnerships, aiming to bolster Algeria’s industrial landscape.
In response, the Ambassador acknowledged Algeria’s influential role within the African region, citing its significance as both an export gateway and an attractive investment destination. He commended Algeria’s commitment to fostering an enabling environment for business and expressed South Korea’s interest in further exploring investment opportunities in Algeria across various sectors.
The discussions between Minister Aoun and Ambassador You Ki Jun underscored the mutual desire to strengthen bilateral relations and capitalize on shared economic interests. Both parties reiterated their commitment to advancing cooperation and fostering a conducive environment for increased investment and partnership initiatives.
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