site.btaBulgaria, Algeria Want to Expand Cooperation

Deputy Minister of Economy and Industry Nikolay Pavlov and the President of the Algerian Chamber of Commerce and Industry, Kamel Hamenni, discussed the possibility of strengthening economic relations between the two countries in various sectors, the Economy Ministry said on Friday. The two officials talked about intensifying cooperation in traditional areas of interaction such as mechanical engineering, pharmaceuticals, electrical engineering, food processing, infrastructure projects, tourism, etc.

"Algeria is our traditional and important economic partner in the North African region. We attach great importance to the ties between the two countries and will continue to develop bilateral trade and economic relations by encouraging more joint initiatives and business forums between the two countries," Pavlov said during the meeting.

He pointed out that Bulgaria is an attractive place for investments and offers very good conditions for companies to locate in the industrial zones here. "Our country maintains its competitiveness despite the difficult times in Europe. We have many opportunities to expand our economic ties," the Deputy Minister further stressed.

The President of the Algerian Chamber of Commerce and Industry highlighted the good bilateral cooperation which has been providing conditions and opportunities for more fruitful contacts for business representatives.

Pavlov and Hamenni also discussed the possibilities to look for new sectors of cooperation in which Bulgarian companies could partner with Algerian ones. The meeting, which was held at the Ministry of Economy and Industry, was also attended by representatives of the Bulgarian Chamber of Commerce and Industry, at whose invitation Hamenni is in Bulgaria.

In the first six months of 2024, trade between Bulgaria and Algeria amounted to nearly USD 200 million.

In recent years, trade and economic relations between Bulgaria and Algeria have been developing positively, the Ministry said on its website. Among the leading commodities in Bulgaria's exports to Algeria in 2023 were wheat and a mixture of wheat and rye, and in imports - semi-finished products of iron or non-alloy steel.