DOORS OPEN TO US INVESTMENTS IN ALGERIA, SAYS ENVOY

WASHINGTON, -- The doors are open to American companies to invest in Algeria, says Algerian Ambassador to the United States Madjid Bouguerra, who urged American companies to seize the economic opportunities offered by the North African country.

"What we ask from the United States is to ensure that the American business community and American companies have their share of opportunities offered by Algeria," said the ambassador in a interview with to Al-Monitor, an information website specializing in Middle Eastern affairs.

"The doors are open to them in several sectors," added Bouguerra.

Over the past years, the two countries have put in place several mechanisms to strengthen their bilateral relationship by establishing a strategic and military dialogue and by creating a business forum.

However, trade exchanges have actually fallen -- from 24 billion US dollars in 2012 to 7.0 billion USD in 2015 because of a significant decline in Algerian oil and gas exports to the US, said Bouguerra.

"At the economic level, we had much stronger relations when the United States imported oil and gas from Algeria. Unfortunately, it is no longer the case since last year," he added.

Like the other countries rich in natural resources, Algeria wants to create an economy to prepare for the post-oil period, added Bouguerra.

Source: Name News Network