Ahmad 
The Algerian Minister of Industry, Ali Aoun, announced that the volume of trade exchange between Algeria and the European Union amounted to $ 46.5 billion during the first 11 months of 2023.
This came during his speech at a seminar organized by the Delegation of the European Union in Algeria in cooperation with the Algerian Agency for Investment Promotion and said: “Algeria is living a new era and is committed to building bridges of cooperation with the European Union as a historic partner.”
“The association agreement between the two sides has made the European Union Algeria’s first trading partner for several years,” Aoun said, explaining that most European direct investments in Algeria are still concentrated in the hydrocarbon sector.
“Algeria, which has always been a reliable and safe partner for European countries, especially in the field of natural gas supply, seeks to build relations of cooperation and partnership that meet mutual aspirations in the field of economic development,” the minister added.
“Fruitful co-operation requires a secure and stable environment that enhances the confidence of economic operators and provides them with the necessary guarantees and incentives,” Aoun said, noting that “Algeria has taken the initiative to achieve a qualitative leap in the field of economic reforms, especially the legislative framework related to hydrocarbons, finance and investment.”
This seminar falls within the framework of the implementation of the cooperation program between the Algerian Ministry of Foreign Affairs and the European Union, through the project “Algerian-European partnership for sustainable investment” launched in 2023, which aims to strengthen the economic partnership between the two parties through the promotion of foreign direct investment and projects to shorten European supply chains.
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