President Tebboune Boosts Algerian-Chinese Economic Partnership through High-Level Talks
BY: Hana Saada
ALGIERS- Algeria and China are set to strengthen their strategic partnership, particularly in the economic sector, as evidenced by the ongoing visit of the special envoy of Chinese President Xi Jinping. Vice Premier Minister of the State Council of the People’s Republic of China, Liu Guozhong, engaged in talks with President Abdelmadjid Tebboune and Prime Minister Nadir Larbaoui during his working visit to Algeria.
The discussions, held at the governmental palace in Algiers, focused on the follow-up and implementation of agreements reached during President Tebboune’s state visit to China in July 2023. Both sides expressed satisfaction with the progress in economic cooperation and emphasized the importance of enhancing the strategic partnership, especially in terms of investments.
The Algerian-Chinese relations witnessed a significant upswing during President Tebboune’s five-day state visit to China, resulting in substantial agreements and investments. The visit, which included a delegation of ministers and business leaders, paved the way for mutually beneficial projects spanning various sectors, such as manufacturing, technology, knowledge economy, transportation, and agriculture.
A landmark investment of $36 billion was sealed, marking China’s commitment to supporting Algeria’s economic development. The bilateral discussions led to the signing of 19 agreements and memoranda of understanding, covering areas like trade, railway transport, technology, telecommunications, scientific research, space exploration, and agriculture.
One of the key projects discussed is the development of the Gara Djebilet mine, aimed at ensuring a stable supply of raw materials for the national steel industry and facilitating exports. A partnership agreement between the Algerian company Feraal and the Chinese consortium CMH was inked to extract 2 million tons of iron ore annually by 2026. Additionally, Chinese partners are involved in the construction of railway lines connecting Gara Djebilet to Béchar.
Another strategic project involves phosphate extraction in the Tébessa region, with a $7 billion investment, positioning Algeria as a major player in fertilizer exports. The partnership extends to critical infrastructure projects like the El Hamdania integrated port in Cherchell (Tipaza), assigned to the Chinese company CHEC for accelerated development. This port, crucial for the national economy, aims to handle around 6.5 million containers annually.
Further plans include the establishment of a lithium battery plant, crucial for the future of the automotive industry, with the production of electric vehicles. Algeria also anticipates significant Chinese investments in the automotive sector, with the imminent opening of the first assembly plant for Chinese-brand vehicles in Bordj Bou-Arréridj, marking a significant milestone in the partnership between the two nations.
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