JAKARTA, — Algeria and Indonesia have signed a Memorandum of Understanding (MoU) on the development of the bilateral relations in the industrial sector.

The MoU, which was signed here Wednesday by Algerian Minister of Industry and Mines Abdesselam Bouchouareb and his Indonesian counterpart, Airlangga Hartarto, defines the co-operation and partnership segments to be strengthened between the two countries.

The textile, wood and furniture industries, mining industry and building materials, spare parts and components, transport and equipments, agricultural machinery and equipment, pharmaceuticals and cosmetics, steel and metal industries, food-processing industry, petrochemicals and fertilizer, energy industries and non-metal materials are among the defined sectors to be promoted for bilateral co-operation.

According to Bouchouareb, the memorandum of understanding is aimed at speeding up the development of the industrial sectors in both countries.

The minister said the purpose of the agreement is to prioritize the forms of co-operation to boost public-private partnerships and co-operation with the private sector to materialize the industrial partnerships and investments involving Algerian and Indonesian companies.

The MoU is also aimed at developing the quality of infrastructures, identifying projects and joint co-operation programmes, and establishing permanent consultations, chiefly on the positions to have within international and regional organizations related to the industrial and technological development.

It also intends to promote the exchange of technical expertise and information likely to help boost the development of facilities and investment as well as training programmes.

A bilateral working group will be set up to follow up the implementation of the MoU.

Source: Name News Network