ALGERIA, UAE SIGN 14 MOUS

ALGIERS, --Algeria and the United Arab Emirates (UAE) have signed 14 memorandums of understanding (MoUs) covering various key sectors including industry and energy in conjunction with the visit to the country by the UAE Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Mansour bin Zayed Al Nahyan.

An MoU between the Ministry of Industry and Mines and the Emirati Economy Ministry was signed here Tuesday by Algerian Industry and Mines Minister Abdessalem Bouchouareb and Obaid Humaid Al Tayer, the UAE Minister of State for Financial Affairs.

Both sides also signed an MoU on the setting up of a joint venture to manufacture and maintain Mercedes Benz vehicles under a project implemented by the German auto-maker in Algeria.

Sheikh Mansour's visit to Algeria also culminated in the signing of an agreement between Algeria's Sonatrach energy group and the UAE's Cepsa company on the renewal of contracts between the two companies.

The new contract provides for 25 additional years of the exploitation of Rhourde El Krouf (RKF) oil field while the Ourhoud oil field will be exploited for ten additional years. the chief executive officer of Sonatrach, Amine Mazouzi, and the CEO of Cepsa, Pedro Miro Roig, signed the agreement.

Another MoU between Afrodiff Company and al Mazraa was signed by the Manager of the Algerian company, Akhnache Djamila, and the Director of Abu Dhabi Fund for Development (ADFD), Mohammed Saif Al Suwaidi.

Other agreements signed included one between the Algerian Ministry of Agriculture, Rural Development and Fishing and the UAE Ministry of Climate Change and Environment for the establishment of a protected nature reserve.

Source: Nam News Network