Cairo: Algeria's Industry Minister Yahia Bachir announced that Egypt and Algeria have reached an agreement to establish a direct maritime route connecting Algiers Port and the Port of Alexandria. This initiative aims to facilitate cargo movement and foster increasing bilateral trade between the two nations.

According to State Information Service Egypt, the announcement was made during preparatory meetings of the joint high committee of the two countries, held in Cairo. The meetings were co-chaired by Bachir and Egypt's Planning, Economic Development and International Cooperation Minister Rania Al-Mashat. Bachir highlighted that trade between Egypt and Algeria saw an upsurge in 2024 and is projected to surpass $1 billion in the current year. He emphasized the need for further expansion in trade relations and increased Egyptian investments in Algeria, referencing ongoing projects by companies such as Elsewedy Electric and Orascom.

Bachir also suggested the formation of a joint business council to explore new investment opportunities. He pointed out the involvement of Egyptian firms in Algeria's housing projects as a testament to the growing economic ties. The preparatory discussions further delved into potential cooperation across more than 20 sectors, including small and medium-sized enterprises (SMEs), industrial integration, renewable energy, housing, agriculture, higher education, and religious affairs.