ALGERIA, SAUDI SIGN MOU ON TRADE CO-OPERATION
RIYADH, –Algeria and Saudi Arabia have signed a memorandum of understanding (MoU) on trade co-operation as part of the official visit by Algerian Prime Minister Abdelmalek Sellal to the kingdom.
The MoU was signed here Tuesday by Algerian Minister of Maghreb, African Union (AU) and Arab League Affairs Abdelkader Messahel and Saudi Minister of Commerce and Investment Majed Al-Kassabi.
It focuses mainly on the protection of consumers and the control of the quality of goods and services as part of commercial exchanges between the two countries.
Algeria-Saudi trade reached 619 million US dollars in 2015 with Algerian imports from the kingdom exceeding 612 million USD while Algeria’s exports to Saudi Arabia came to less than 7.0 million USD.
The discussions between the two delegations covered a review of bilateral co-peration and ways to to develop and diversify it in various fields.
Sellal took part Wednesday in an economic forum aimed at encouraging co-operation between the two countries’ economic operators and developing productive investment as well as increasing partnership initiatives.
Source: Nam News Network