Economy

The 49th Economic Summit in Algeria

Foire internationale d’Alger, a Key Platform for the Regional Economy May 31st, 2016

June 08th, 2016
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The International Fair of Alger, beginning May 28th, is the most important economic event of the region. It is a vital platform for the national economy of Algeria. This year’s fair will gather 810 exhibitors from across 33 different countries and will be an opportunity for investment and to pursue mutually beneficial business.

The President of the Republic of Algeria, Abdelaziz Bouteflika, opened the event, which aims at promoting industrial and service sectors through one main theme: ‘Investment and private enterprise at the heart of a productive economy’. Turkey and China are the main foreign exhibitors, representing 2397m² and 954 m² respectively.

The main sectors represented are agribusiness, energy, chemistry and petrochemicals, electronics, textile, civil engineering, mechanics and steel industry and metallurgy. A conference was also organised on the topic of Arab-African partnerships on the 29th of May, hosted by the Arab Bank of economical development in Africa.

The Algerian Prime Minister, Abdelmallek Sellal, toured the stands and highlighted the crucial importance of encouraging productivity. He added that the state will not shy away from the challenge of diversifying its economy and will attemt to move from energy dependency. ‘2017 will be the year of exportations’ he said, emphasising the size of Algeria and its many assets. He urged exhibitors to pursue a long term vision and explained that Algeria is solving its problems gradually to become stronger and more attractive to foreign investors. He finally announced that an economic forum will be held at the end of November in Alger, gathering more than 2000 African businessmen to discuss the exportations possibilities of their respective countries.

Africa is shifting towards increased exportations and towards renewable energies. Such summits are a possibility for African countries to pool their strengths and to push forward to create a new future.   

References:

Cultural Diplomacy News
Julie Essertel, CD News