The work of the Algerian-Indian Economic Forum, held under the chairmanship of the President of the Republic of India, Mrs. Droupadi Murmu, was closed on Monday in Algiers, with an agreement on the establishment of fruitful and mutually beneficial business relations and partnerships, we read in the Final Communiqué of this Forum.
The Algerian Economic Renewal Council (CREA) and the Union of Chambers of Commerce and Industry of India signed a memorandum of understanding for cooperation, according to the final communiqué that sanctioned the work of the Forum, which precedes the holding of the next session of the Joint Bilateral Cooperation Commission, and which took place in the presence of the Minister of Commerce and Export Promotion, Tayeb Zitouni.
The Forum was punctuated by interventions on the investment climate in the two countries and the means of exploiting all the opportunities offered by the markets of the two countries.
This forum takes place on the occasion of the state visit of the President of the Republic of India, Mrs. Droupadi Murmu, to Algeria, during which she met the President of the Republic, Mr. Abdelmadjid Tebboune, “as part of the realization of the will of the two countries to give a new start to economic and commercial relations, through the adoption of a common strategy aimed at bringing together the appropriate conditions to enable Algerian and Indian economic operators to take advantage of partnership opportunities and trade in areas of interest to both countries,” the press release added.
On this occasion, Mrs. Murmu and Mr. Zitouni stressed “the importance of strategic economic relations between the two countries and the need to work together to strengthen them through the increase and diversification of trade, as well as the exploitation of available investment and partnership opportunities, in particular by encouraging economic operators from both countries to develop and carry out profitable projects for both parties.”
More than 300 Algerian and Indian operators took part in this Forum, representing several sectors including energy and mining, petrochemicals and fertilizers, infrastructure, food, manufacturing and mechanical industries, electricity and railways, in addition to the pharmaceutical industry, textiles and agriculture, water desalination and information and communication technologies (ICT).
This meeting was also an opportunity to organize bilateral meetings (B2B) between Algerian economic operators and their Indian counterparts who, in turn, “expressed their willingness to develop bilateral cooperation in different sectors, based on mutual trust and to intensify visit exchange programs and contacts between businessmen, while committing to ensuring continued participation in economic events organized in Algeria and India and to establish fruitful and mutually beneficial business relations and partnerships for both parties,” the statement concluded.
