ALGERIA.HINA SIGN PACT TO DEEPEN BILATERAL PARTNERSHIP

ALGIERS, -- Algeria and China have signed a draft agreement to strengthen their partnership in the industrial sector to pave the way for the creation of joint projects in several fields to attract Chinese investments to Algeria.

The draft Agreement to Strengthen Production Capacities Between Algeria and China was signed here Sunday by Algeria's Minister of Industry and Mining, Abdessalem Bouchouareb, and the visiting Chinese Vice-Minister of Commerce, Qian Keming.

"This important agreement aims at restructuring the joint economic relations currently based on trading and the agreements of public constructions and to orient them towards an investment process and joint production through the implementation of an executive framework and a basis of industrial and technological partnership between the two countries," said Bouchouareb at the signing ceremony.

The agreement covers co-operation in manufacturing industry, exploitation of resources and energy (oil and gas), engineering industry, railway industry, steel industry, infrastructure, petrochemical industry, renewable energy, energy efficiency, processing of minerals, construction, household appliances as well as technical co-operation.

A was set up to follow up and monitor the partnership and co-operation the two sides have recognized as a priority. Through this agreement, Algeria and China will improve and modernize the production capacities of companies, notably those in Algeria.

Source: Nam News Network