US SUPPORTS ALGERIA’S EFFORTS TO DIVERSIFY ECONOMY, SAYS DEPUTY SECY OF STATE

ALGIERS, -- The United States Deputy Secretary of State, Antony Blinken, says Washington supports Algeria's efforts to diversify its economy, noting a deepening partnership between the two countries covering all areas.

"Algeria's move to diversify is a smart move since it's challenging times (following the fall in oil prices) and we support the diversification of the Algerian economy," Blinken said in an interview with the Algerian Press Service (APS) at the end of his visit to Algeria Tuesday.

According to the US diplomat, failure to diversify the economy "would make it difficult for countries to succeed economically".

Blinken added that Algeria was making efforts to diversify its economy within the energy sector, notably by developing renewable energies, but also more broadly in the other economic sectors.

"We will continue to closely work to develop the renewable energies where Algeria has made real strides," he said.

The Deputy Secretary, however, stressed that it was important for the Algerian government to continue to take steps to make the business climate as good as possible to attract more foreign investments, including from the US.

Highlighting the assets and strengths of Algeria, in particular its geographical position and its human resources, the US diplomat said he discussed with senior Algerian officials about the 51/49 rule and the procedures related to the creation and the establishment of companies.

About his visit to Algeria, he said that he had "very good" discussions with Algerian officials, expressing the wish to "deepen our relationship with Algeria, economically, culturally and especially exchanges between the two peoples".

Blinken welcomed Algeria's role and efforts for the reestablishment of peace and security in the region. "Algeria's leadership for restoring peace in Libya, Mali and in Syria is very important and for each of those issues we are working closely," he added.

"Algeria must continue to ensure its leadership and continue to work for restoring peace and security as well as the economic development of the region."

Source: Name News Network