Turkey wants to increase investments in Algeria

GMT 17:05 2014 Friday ,21 November

Arab Today, arab today Turkey wants to increase investments in Algeria

Turkish President Recep Tayyip Erdogan
Algiers - APS

Turkey wants to raise its investments in Algeria at higher levels, President Recep Tayyip Erdogan said Wednesday in Algiers, wishing to intensify Turkish companies’ participation in infrastructure projects.
At the closing of the Algeria and Turkish business forum alongside Prime Minister Abdelmalek Sellal, Erdogan said that the investment relations between the two countries "are good but we want to raise it to highest levels," recalling that the Turkish investment projects in Algeria so far are estimated at $ 2 billion. He cited in this regard the project of Turkish steel company Tosyali.
"We hope that the Turkish entrepreneurship companies intensify their participation in infrastructures."
"Algeria is embarking major projects of infrastructures and we want to be involved in those projects," he added.
Turkish president said that his country was ready to enable Algeria to profit from its experience in terms of housing construction adding that Turkey had built nearly 600,000 housing units during the last 12 years.
Moreover, Erdogan called for increased trade between the two countries from $4.5 billion currently to $ 10 billion in the shortest possible time and by removing all barriers to trade.
"12 years ago, trade volume was less than a billion dollars, in 2013 it reached $ 4.5 billion, but this is not enough. By removing the barriers we are able to reach 10 billion as soon as possible, "he said.
Algeria is the fourth largest supplier of natural gas to Turkey, said Erdogan, while mentioning the contract of  Liquefied Natural Gas supply between Turkey and Algeria  (LNG) which was extended for ten more years.

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