Turkey to increase investments in Algeria up to $10bn

GMT 15:31 2014 Thursday ,20 November

Arab Today, arab today Turkey to increase investments in Algeria up to $10bn

Turkish Prime Minister Recep Tayyip Erdogan
Ankara - KUNA

Turkish Prime Minister Recep Tayyip Erdogan said his country is planning to increase its investments in Algeria from USD 4.5 billion to USD ten billion.
Erdogan's remarks came in a statement to Algeria's radio upon conclusion of the Algerian-Turkish business forum, held with the presence of Algerian Prime Minister Abdelmalek Sellal on Thursday.
Investment between the two countries has developed, said Erdogan, adding that Turkey's businesses in Algeria are currently estimated at USD two billion.
He added that Algiers could benefit from his country's expertise in building residencies, noting that Turkey has built about 600,000 units within 12 years.
He also mentioned the agreement signed between the two sides which will allow Algeria to provide Turkey with an increased amount of liquefied gas by 50 percent for the upcoming ten years.
Turkish Minister of Economy Nihat Zeybekci on his part said that both countries can cooperate to execute huge projects in Africa, noting the importance of developing their bilateral relations.

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