Algeria, Croatia create Business Council
Algeria and Croatia on Sunday created a Business Council in Algiers to bring together economic operators from both countries and increase the volume of bilateral trade.
The Agreement establishing this Council was signed by the President of the Algerian Chamber of Commerce and Industry (CACI), Tayeb Chebab and the Vice-President of the Croatian Chamber of Economy, Ivan Barbaric.
The signing ceremony took place on the sidelines of the Algeria-Croatia Business Forum, in the presence of the Minister of Foreign Affairs and the National Community abroad, Mr Ramtane Lamamra and his counterpart the Croatian Minister of Foreign Affairs and European Affairs, Mr Gordan Grlic Radman.
Speaking on this occasion, Mr Chebab called on Croatian companies to invest more in Algeria following the establishment of a legislative framework that encourages investment, citing in particular the cancellation of the 49-51 rule, except in strategic sectors.
Promising investment opportunities exist in Algeria in several sectors, including tourism and industry, said the CACI President.
Mr Chebab also urged Croatian operators to take advantage of the opportunities offered by Algeria which enjoys the strategic position of a gateway to African markets, through the African Continental Free Trade Area (AfCFTA).
The participation of Croatian operators in the International Fair of Algiers 2022 will be an opportunity to engage in partnerships and increase the volume of trade between the two countries.
Mr Barbaric said, for his part, that this council will provide an organized framework for economic cooperation between Croatian and Algerian operators in various fields.
Croatian companies want to invest in promising sectors, such as renewable energy, agribusiness and livestock, he said.
The CACI Director General, Mrs Wahiba Bahloul said that the volume of trade between the two countries amounted to nearly US$9 million until October 31, 2021, against nearly US$11 million in 2020.