Egyptian Ambassador in Algiers Mokhtar Warida said many promising opportunities are available for boosting economic and investment integration between Egypt and Algeria.

The vision presented by President Abdel Fattah El Sisi during the opening session of the COMESA Cairo summit in November could contribute to achieving economic integration between the two North African countries, Warida told the joint Egyptian-Algerian symposium on construction and renewable energies in Algeria, co-organized by the Commercial Representation Office of the Egyptian Embassy and the Algerian National Union of Employers and Entrepreneurs.

Egypt has adopted economic reform measures that enabled it to overcome the global challenges imposed by the coronavirus pandemic, he added.

The symposium aims to encourage Algerian and Egyptian investments, stimulate the business community, and overcome all obstacles facing entrepreneurs in both countries, the ambassador said.

Cairo has great experiences in the construction and renewable energy fields, he added. “Egypt is ready to transfer its expertise to the Algerian market.”

Egypt and Algeria can integrate economically, strongly tap into the African market, and formulate joint projects for investment and trade exchange on the basis of mutual benefit, leading to the manufacture of “Made in Egypt and Algeria” products, the ambassador said.

In turn, head of the Commercial Representation Office Yasser Qorani said the volume of trade exchange between the two countries reached $ 750 million dollars in 2020; a figure that does not reflect their capabilities.

He expressed his hope that the figure would rise to two billion dollars in the coming years.

Source: State Information Service Egypt