KUALA LUMPUR,— Algeria and Malaysia have made significant progress in their bilateral ties in recent years and efforts are being made to boost cooperation and explore investments opportunities between the two countries, said Algeria’s ambassador to Malaysia, Saad Maandi.
Maandi said potential exists in the areas of energy, mines, industry, trade, small and medium enterprises, tourism, air services, maritime transport, fishing and aquaculture as well as cooperation in the area of modernisation of public administration,
“I would like to underscore our real desire to develop and reinforce even more the bilateral cooperation in both the economic and commercial areas and to elevate them to higher level to meet the ambitions of our leaders to make the relations between Algeria and Malaysia stronger and our cooperation truly fruitful,” he told Bernama in an interview.
In this regard, the ambassador said consideration of many draft agreements is underway between Algiers and Kuala Lumpur, adding that their finalisation and signing will pave the way for very intense bilateral cooperation for the benefit of the brotherly peoples of both countries.
In this regard, Maandi stressed the need to reactivate the mechanisms of bilateral partnership including, in particular, the Algerian Malaysian Joint Commission under the presidency of the heads of diplomacy of the two countries.
Maandi said two draft agreements are being considered by both sides – one on the promotion of foreign trade between Algeria’s National Agency for the Promotion of Foreign Trade (ALGEX) and the Malaysia External Trade Development Corporation (MATRADE), and one between the Algerian Chamber of Commerce and Industry (CACI) and the National Chamber of Commerce and Industry of Malaysia (NCCIM).
The Algerian ambassador encouraged the creation of the Algerian Malaysian Business Council, which he said can provide an appropriate framework for the business communities of the two countries to identify and explore opportunities for trade and investments.
Maandi explained that the Algerian new investment law, approved recently by the government, which aims at attracting foreign investors and improving its business climate, would certainly encourage Malaysian investors to look for investment opportunities and do business in Algeria.
He pointed out that it is essential to encourage both business communities and valuable stakeholders to meet regularly in order to identify and exploit new business opportunities and create partnerships.
“Indubitably, exchange of visits of high officials and the meeting of the mechanism already in place, too, will keenly contribute to raise our partnership up to a higher level,” he further said.
Source: NAM NEWS NETWORK