Turkish President Erdogan said he wanted to further increase trade between Turkey and Algeria, which currently amount to 3,5 billion dollars (2,86 billion euros).
"The cooperation between our two countries will probably bring these exchanges to 5 billion dollars in the short term", said the Turkish president, opening a forum of Algerian and Turkish entrepreneurs ".
Algeria is very large and Turkey is very strong, we will collaborate more to increase the volume of our trade, with the aim of reaching 10 billion dollars in the future ”.
The Turkish president asks his compatriots to invest in Algeria, which he defines as “an island of political and economic stability in the Mediterranean and in Africa.
According to Abdelkrim Mansouri, president of the National Investment Development Agency (ANDI), "Turkey is the largest foreign investor in Algeria and has 138 projects registered with ANDI, of which twenty-three have already been completed with 74 billion EUR. Ahmed Ouyahia also affirmed Algeria's willingness to develop its economic partnership with Turkey in order to achieve a privileged level in their political relations.
For the Algerian prime minister, "Turkey is a strategic partner of Algeria, today it is the sixth importer of Algerian products and the seventh largest supplier of Algeria". During the official visit to Algeria of, Recep Tayyip Erdogan signed, seven partnership and cooperation agreements and a memorandum of understanding. They concern the hydrocarbon sectors (Memorandum of Understanding between Sonatrach and the Turkish groups Rönesans and Bayegan for the construction of a petrochemical site in Adana, southern Turkey), agriculture, tourism, diplomacy, culture and higher education. About 800 Turkish companies, with a workforce of 28.000 employees, are already present on Algerian soil.