ALGERIA TO HOST INVESTMENT FORUM FOCUSING ON AFRICA FROM DEC 3-5

ALGIERS, -- Algeria will host the African Investment and Business Forum here from Dec 3 to 5 to provide an opportunity to put the focus on opportunities in Africa, says Minister of State and Minister of Foreign Affairs and International Co-operation Ramtane Lamamra.

As part of its efforts to diversify and adapt its growth model, Algeria wants to seize the advantages offered within the continent which represent a huge reservoir of productivity, production of wealth and growth, Lamamra told a media conference here Monday.

He added that the forum, which was expected to be attended by more than 2,000 economic operators from different sectors, including energy, industry, mining, agriculture, transport, public works and information communication technologies (ICT), would be an opportunity to launch this initiative.

The current state of the Algerian economy and the ongoing reforms do not prevent the country from having ambitions in the African territory ..... and playing a key role in African economic integration, he stressed.

According to Lamamra, the Trans-Saharan Highway running from Algiers to Lagos and the El Hamdania port project in the Algerian province of Tipasa had been conceived with such continental integration in mind.

In this context, he said Algeria was willing to strengthen ties with other African nations' economic organizations. "There is a development process in Africa, considering the continent's integration and free-trade areas," Lamamra noted.

"In this respect, Algeria's rapprochement with the Common Market for Eastern and Southern Africa (COMESA) is under consideration. In a near future, we will negotiate trade agreements with Mali and Niger as well as the Economic Community of West African States (ECOWAS)."

Algeria, which is an observer at ECOWAS, "intends to make other steps favouring the connection of the Algerian economy with the economies of other African nations".

Source: Nam News Network