Butaflika calls on French companies to invest in Algeria
Algeria-France, Economics, 6/16/2000

Algerian President Abdul Aziz Butaflika on Thursday in Paris called for putting once again into balance economic relations between France and Algeria.

Butaflika noted that French companies can basically contribute to renovating these Algerian companies. In a statement before some 100 directors of the French companies in Paris, the Algerian President added that the French- Algerian balance of payment witnessed in 1999 a surplus estimated at US $ 1.4 billion in favor of France.

He added that France as the number one exporter of products to Algeria has a weak presence in the area of investment. The Algerian president criticized the strong and tough restrictions imposed on individuals' movements and in issuing entry visas to Algerians.

The Algerian president said that the role played by the French investors can and should be important due to the nature of " our current economic relations. It is our joint interests to serve these relations towards continued contacts."

He stressed the Algerian economic sectors, including the oil sector which will be opened before foreign investments of the European Union, but taking into account the Algerian special ties in convening a partnership agreement with Algeria, similar to that signed with Tunisia and Morocco in 1995 and 1996, respectively.

Butaflika announced the opening of a special office to facilitate trade ties and needed documents and applications for foreign investors.

He stressed Algeria's intention to merge into the international economy through a deep reforms policy.

Previous Stories:
  Algeria, France sign customs agreements   (4/11/2000)
  25 investment projects between France and Algeria   (2/8/2000)
  U.S donation for Algerian electric company   (7/2/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search