22 October 2020 02:41 AM

Economic Relations

Monday، 30 October 2017 - 12:00 AM

In 2014, the economic relations between Egypt and Algeria witnessed a strong boost, most notably at holding the seventh session of the Egyptian-Algerian high joint commission that was  headed by Prime Ministers of the both countries Ibrahim Mahlab and Abdel Malek Sellal during which 17  agreements  and memorandum of understanding were endorsed. They covered many sectors in the fields of export enhancement, consumer protection, cooperation between Egyptian and Algerian Stock Exchange,  and insurance and reinsurance .  Memoranda of understanding in veterinary services and in training and vocational training were signed as well.

• The volume of trade exchange between Egypt and Algeria was valued at almost $1.5 billion in 2012; i.e. up 11% over the 2011 figures. According to figures released by the Algerian Customs Authority in January 2013, Egyptian exports occupied third place among Arab exporting countries with exports calculated at $380.56 million as compared to $876.51 million of Algerian imports.

• Egyptian investment projects in Algeria were valued in 2009 at $4 billion and $890 million in the agricultural, construction, industrial services and communication sectors.

• Trade exchange between the two countries in the first 8 months of 2009 was put at $806 million. Algerian exports to Egypt were estimated at $612.7 million; imports at $196.8 million.
• Early in 2005, the two countries upgraded their joint committee to presidential level; a committee at foreign ministers' level has been established to ensure the smooth administration of regular day-to-day business.
 
• A number of Egyptian companies also took part in the 38th Algiers International Fair held on June 1 to 7, 2005.

Agreements signed:

• Agreement on encouraging and protecting investments.

• Agreement on the prevention of double taxation.

• Cooperation Agreement on the standardization of measurements and specifications.
 
• Cooperation Agreement between the international trade points of the two countries.
 
• Agreement on the establishment of an Egyptian-Algerian Business Council.
 
• Agreement on the establishment of an Egyptian-Algerian fishing company.