The Saudi-Algerian Joint Committee Concludes its 13th Session in Riyadh by Signing 4 Agreements for Bilateral Cooperation and Partnership

18 Apr 2018
Means of Enhancing Cooperation between the two Countries in Various Sectors are discussed
The Saudi-Algerian joint committee concluded its 13th session in Riyadh under the chairmanship of His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qasabi. The Algerian side was headed by H.E. the Minister of Industry and Mines, Mr. Yousuf Yousfi. The meetings of the committee technical teams were attended by government officials and representatives from various sectors in the two countries.

The two sides discussed ways of activating the trade partnership and boosting the volume of trade exchange, as well as the investment opportunities in various sectors, besides following up the implementation of the decisions and recommendations of the Joint Committee's work. This is in accordance with the supreme directives of the leaders of the two brotherly countries in Saudi Arabia and the People's Democratic Republic of Algeria.

H.E. the Minister of Commerce and Investment, Dr. Majid Al-Qassabi, stressed in his speech the importance of the role assigned to this committee and the hopes for achieving more cooperation in various fields in both countries. H. E. pointed out that the signing of a number of agreements during this session is considered an important step towards strengthening and boosting the relations of the two countries.

For his part, H.E. Yousuf Yousfi, Minister of Industry and Mines, expressed his satisfaction for holding the meetings of the joint committee on regular basis. This would enhances the communication between the two sides and promote the cooperation in various fields. H. E. pointed out the need for evaluating the implementation of the committee’s recommendations for going ahead in the bilateral relations in various sectors. H.E. pointed out the importance of focusing on the investment opportunities, within the framework of the partnership, since they have positive impact on the economies of the two countries.

The attendants discussed the promotion of cooperation in the areas of trade, investment, energy, industry, mining, consumer protection, customs, standards & specifications, banking and financial cooperation, planning and statistics, environment, water and agriculture, housing and construction, tourism, transport, labor and development, education and scientific research, Islamic affairs, culture, media and sports.

The two sides signed four partnership agreements. First, signing the minutes of meeting of the 13th session of the joint committee. Second, signing the agreement for the technical cooperation program between the Saudi Standard, Metrology and Quality Organization and the Algerian Institute for Standardization. Third, singing the agreement of an executive work program in the field of investment between the General Authority for Investment and the Algerian National Agency for Developing the Investment. Fourth, signing a joint cooperation agreement between Prince Saud Al-Faisal Institute for Diplomatic Studies at the Ministry of Foreign Affairs and the Diplomatic Institute and International Relations at the Algerian Ministry of Foreign Affairs.

Meanwhile, the joint committee reviewed various aspects of cooperation in the field of trade, stressing the need to strengthen and boost the bilateral cooperation to increase the volume of trade exchange with its relevant diversification between the two countries, also to encourage participation in the international exhibitions organized in both countries, besides stressing the role of the Saudi-Algerian Business Council, in addition to holding bilateral meetings among businessmen in both countries continuously, also creating investment opportunities at the two sides, more over following-up the implementation of the recommendations of this Joint Committee.

On the sidelines of the meeting of the Saudi-Algerian joint committee, the Saudi-Algerian Business Council held its 11th session in Riyadh, attended by businessmen from both countries.

Last Modified 26 Dec 2018