Leaders on the Saudi-Algerian Business Council (SABC) recently achieved a new milestone in improving the bilateral trade between the two nations

Leaders on the Saudi-Algerian Business Council (SABC) recently achieved a new milestone in improving the bilateral trade between the two nations by creating an outline of eight approaches to further improve relations.

Raed Al Mazroa, the Chairperson of the Saudi division of SABC at CSC, stated that the delegation includes 30 Saudi businesspersons, all of whom recently went to Algeria. The goal of the visit was to discover new investment opportunities. They also had bilateral meetings about delegation changes and joint ventures between Saudi and Algeria.

The recommendations within the outline include modifying the number of foreign investments in Algeria, encouraging firms from the two nations to discover respective markets, develop a Saudi-Algerian bank for bilateral investment finance, and creating banking procedures.

Al Mazroa also stated that the Algerian portion of the CSC had several projects that Saudi investors may find interesting. These include constructing a private hospital, building a machinery factory, and more. The members also promoted tourism, fiber optics, healthcare, agriculture, IT, transportation, manufacturing, and energy industries.

Al Mazroa also stated that this is the ideal time to develop the two nations’ partnership. Both countries have support from their leaders as well as the groups involved in facilitating trade.

Source: Gulf News Journal, April 08, 2016