BRUSSELS, March 14 (NNN-KUNA) — The European Union and Algeria signed here on Monday a EUR 40 million-package agreement that will help Algeria diversify its economy and improve its business climate through development of renewable energy and modernisation of public finances.

The signing ceremony was held after the EU-Algeria ministerial meeting, known as the EU-Algeria Association Council.

“Today, the European Union and Algeria have adopted the priorities of partnership, within the framework of the new European neighbourhood policy,” EU High Representative Federica Mogherini told a press conference after the meeting.

“This decision reflects a qualitative leap in our bilateral relationship. We have decided to further deepen our strategic cooperation, our dialogue and our response to common challenges,” she said.

On his part, Johannes Hahn, EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations, told the joint press conference: “We have signed today three new cooperation programs of 40 million euro that will further reinforce our cooperation.”

Ramtane Lamamra, Algerian Minister for Foreign Affairs, said that this” tenth EU-Algeria association Council is not comparable to the others that we had.”

This is an end of the process of the evaluation of the Association Agreement that helps the development of Algeria, he said.

He added that they discussed also the situation in Syria, Libya, Sudan and Palestine.

Source: NAM News Network

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