Algerian officials in Washington promote economic cooperation and investment
Algeria-USA, Economics, 5/20/2000

A forum held Friday by the Corporate Council on Africa on the theme "Investing in Algeria" allowed Algerian minister of reform, Hamid Temmar to present to American potential investors an overview of the Algerian economy in addition to the policy drawn by state's policy as regards the process of privatization and direct investment such as in the sector of public health care, The Algerian news agency said.

Minister of the Participation Hammid Temmar and Minister of Energy Chekib Khalil are on a working trip since Friday to Washington meetings with various officials of the state department, ministries of commerce and energy, treasury as well as with the World Bank and others.

The Algerian news agency said Temmar held talks at the state department regarding restructuring of the debt to Club de Paris and double taxation.

Three accords are being discussed with the USA, the first one (an outline agreement on trade and investment) will in principle be signed during the visit of the US delegation at the fair of Algiers on next June. The two others being under consideration, the first one is about the promotion and the guarantee of investments and the second one is about the non-double imposition with the definitive accords to be concluded by the end of the year.

"Talks of Khalil with his US counterpart Bill Richardson were centered on the oil market and the difficult situation of the petrol market in the USA. Suggestions, it was pointed out, were made in that sense so as measures be taken in the USA, as for example, the relaxation of certain very severe specifications for the petrol export. The two sides also examined the mechanism of stabilization of prices set up by the OPEC, wishing that it would be functional," the Algerian news agency said.

Khalil also declared interest in getting financing credit for the purchase of wheat that Algeria previously reached, and preparations for holding of the Afro-American conference on the clean energies due to be held in Algeria with the participation of the USA which finances a great part of it were discussed.

Previous Stories:
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  Indonesia, Algeria sign cooperation agreements   (3/22/2000)
  Algerian economy seeks investors   (2/24/2000)

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