800 AFRICAN BUSINESS LEADERS EXPECTED FOR ALGIERS INVESTMENT, BUUSINESS FORUM

Nearly 1,000 participants, including 800 business leaders, from more than 40 African countries will participate in the African Investments and Business Forum to be held here from Dec 3 to 5, says the adviser to the Algerian Ministry of Foreign Affairs, Smail Benamara.

“To date, more than 40 African countries have confirmed their participation: some will be represented by Cabinet ministers and others by presidents of chambers of commerce,” Benamara said here Wednesday.

The forum will be also attended by representatives of international financial institutions, including the World Bank, the African Development Bank (AfDB), the Arab Bank for Economic Development in Africa (BADEA), the Islamic Development Bank (IDB) and several African institutions, he added.

About one hundred foreign journalists have been accredited to cover the event, which is aimed at boosting economic and trade co-operation between Algeria and other African countries to commensurate Algeria’s political action in the resolution of conflicts on the continent.

Currently, intra-Africa trade does not exceed 10 per cent of the continent’s overall trade volume, against more than 80 per cent for intra-European trade volume and 60 per cent for intra-Asian trade, he noted.

Algeria is seeking to build an industrial partnership with other African countries, especially as many of them have made huge progress in the fields of new technology, energy and mining, he added.

An exhibition of products of Algerian economic players will be held on the sidelines of the forum to provide them the opportunity to showcase their products to their African counterparts with a view to concluding deals or even partnerships.

The Forum is organized by a committee made up of representatives of the Office of the Prime Ministry and the Ministry of Foreign Affairs and Ministry of Industry and Trade, as well as of the Forum of Algerian Business Managers (FCE).

The committee has identified five priority sectors for a new economic dynamics to be developed between Algeria and other African countries –agriculture, energy, digital technology, infrastructures and human resources.

Source: NAM NEWS NETWORK