Latest news with #KamelRezig
Zawya
5 days ago
- Business
- Zawya
Oman, Algeria explore new avenues for trade, investment cooperation
Algiers, Algeria –Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, held a series of high-level meetings with Algerian ministers and senior officials to explore ways to enhance economic, trade, and investment cooperation between Oman and the People's Democratic Republic of Algeria. The discussions took place on the sidelines of Oman's participation as the guest of honour at the Algiers International Fair, reflecting the deepening bilateral ties between the two nations. Yousef met separately with Saïd Grib, Minister of Industry; Kamel Rezig, Minister of Foreign Trade and Export Promotion; Tayeb Zitouni, Minister of Domestic Trade and Market Regulation; and Omar Rekkache, Director General of the Algerian Investment Promotion Agency. The meetings focused on activating existing agreements and memoranda of understanding, while identifying new areas of partnership in sectors such as manufacturing, food processing, and real estate. The two sides discussed facilitating joint projects, increasing trade volumes, and boosting cross-border investments through targeted incentives and streamlined procedures. Yousef stressed that these meetings reflect the spirit of the joint communique issued during the historic state visit of His Majesty Sultan Haitham bin Tarik to Algeria in May. He noted that the visit laid the groundwork for a new phase of strategic cooperation across multiple sectors. 'Algeria has shown strong interest in expanding its partnership with Oman, and we see a shared commitment to creating broader opportunities for investors and business leaders in both countries,' Yousef said. As part of the visit, the minister and his delegation toured the Rouiba Industrial Zone and visited leading Algerian companies, including the National Company for General Industries – a key player in energy and petroleum equipment manufacturing – as well as major producers in the dairy and sugar industries. The Omani delegation included Saif Nasser al Badai, Oman's Ambassador to Algeria; Faisal Abdullah al Rowas, Chairman of the Oman Chamber of Commerce and Industry; Eng Dawood Salim al Haddabi, CEO of Madayn (Public Establishment for Industrial Estates); along with representatives from various government institutions, private sector entities, and prominent business leaders. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Times of Oman
6 days ago
- Business
- Times of Oman
Oman, Algeria explore means of boosting economic and investment ties
Algiers — Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, met today with several Algerian ministers and senior officials to discuss means of enhancing economic, trade and investment cooperation between the Sultanate of Oman and the People's Democratic Republic of Algeria. The meetings took place on the sidelines of Oman's participation as the guest of honor at the Algiers International Fair. Al Yousef held separate discussions with Saïd Grib, Algeria's Minister of Industry, Kamel Rezig, Minister of Foreign Trade and Export Promotion, Tayeb Zitouni, Minister of Domestic Trade and Market Regulation and Omar Rekkache, Director General of the Algerian Investment Promotion Agency. The meetings focused on expanding cooperation and partnerships in industry, trade and investment by activating existing agreements and memoranda of understanding between the two countries. Discussions also covered means of facilitating joint projects, increasing trade volumes, and boosting bilateral investments. Key investment opportunities in manufacturing, food processing, and real estate sectors were explored, along with incentives and facilities offered to investors in both countries. Al Yousef emphasized that these meetings reflect the joint communique issued during the historic state visit of His Majesty Sultan Haitham bin Tarik to Algeria last May, which laid the foundation for a new phase of multifaceted cooperation. He affirmed both nations' commitment to strengthening industrial, commercial, and investment partnerships, noting Algeria's keen interest in creating broader opportunities for Omani business leaders and investors across economic sectors. As part of the visit, Al Yousef conducted a field tour of the Rouiba Industrial Zone and the National Company for General Industries, which specializes in energy and petroleum equipment, as well as companies in dairy and sugar production. The Omani delegation comprised Saif Nasser Al Badai, Oman's Ambassador to Algeria, Faisal Abdullah Al Rowas, Chairman of Oman Chamber of Commerce and Industry, Eng. Dawood Salim Al Haddabi, CEO of Madayn (Public Establishment for Industrial Estates), representatives from government and private sectors, as well as business leaders.
Libya Observer
11-06-2025
- Business
- Libya Observer
Algerian government reviews with local banks challenges of exports to Libya
The Algerian government has discussed with local banks the challenges facing exporters targeting the Libyan market, as part of its desire to strengthen the presence of its products and services in its eastern neighbor. Algerian Minister of Foreign Trade and Export Promotion, Kamel Rezig, chaired a coordination meeting with economic operators exporting to the Libyan market. The meeting was attended by the Governor of the Bank of Algeria, the Commissioner General of the Association of Banks and Financial Institutions, as well as several ministry officials and representatives of economic organizations. According to the Algerian Ministry of Trade, the meeting served as an opportunity to exchange views on the field-level challenges faced by exporters to Libya and to explore ways to facilitate the flow of Algerian goods and services to this 'promising' market. Rezig affirmed his ministry's commitment to supporting economic operators and removing obstacles, particularly in terms of logistical support, improving the regulatory framework, and securing transactions in cooperation with the financial and banking sector. He also stressed the importance of the Libyan market as a natural extension for Algerian exports and called for the establishment of long-term economic partnerships that go beyond simple trade exchanges. Trade volume between Libya and Algeria saw a slight increase, with exchanges rising from about $31 million in 2018 to approximately $59 million in 2020, and around $65 million by 2021, of which $59 million represented Algerian exports to Libya. However, this figure remains low compared to the countries' combined potential. This has prompted both governments to launch an ambitious plan aimed at increasing bilateral trade volume to around $3 billion annually. The plan includes facilitating land transport through the reopening of the Debdeb-Ghadames border crossing, boosting maritime transport, establishing a free trade zone, and enhancing banking cooperation. Customs authorities have also held meetings to activate a customs cooperation agreement and revitalize operations at border crossings, with the goal of combating smuggling and facilitating the movement of goods along the 900-kilometer shared border. Tags: Algeria
Libya Review
10-06-2025
- Business
- Libya Review
Algeria Seeks $3B Trade Boost with Libya
In a strategic move to bolster its presence in the Libyan market, the Algerian government has initiated high-level discussions with local banks to address the challenges facing exporters to Libya. The talks reflect Algeria's commitment to expanding its economic influence in neighboring markets. Algerian Minister of Foreign Trade and Export Promotion, Kamel Rezig, chaired a key coordination meeting with economic operators involved in exports to Libya. The meeting included participation from the Governor of the Bank of Algeria, the General Commissioner of the Association of Banks and Financial Institutions, senior ministry officials, and representatives of economic organizations. According to the Ministry of Trade, the session served as a platform for exchanging insights on the ground-level difficulties faced by Algerian exporters. Key issues discussed included enhancing logistical support, improving regulatory frameworks, and securing financial transactions through strengthened cooperation with the banking sector. Minister Rezig emphasized his ministry's dedication to supporting exporters and removing barriers, stressing that Libya represents a 'natural extension' of Algeria's export strategy. He also called for the establishment of long-term economic partnerships that move beyond simple trade exchanges. Trade volume between Algeria and Libya has shown modest growth, rising from approximately $31 million in 2018 to around $65 million in 2021, with Algerian exports accounting for $59 million of that figure. Despite this growth, trade remains limited compared to the potential of both economies. To unlock this potential, both governments have launched an ambitious plan to boost annual trade to $3 billion. Key components of the plan include the opening of the 'Debdeb-Ghadames' border crossing, the enhancement of maritime transport, the creation of a free trade zone, and improved banking collaboration. Additionally, Algerian customs authorities have held meetings to implement a bilateral customs cooperation agreement and stimulate trade activities across the 900-kilometer shared border. These efforts aim to combat smuggling and streamline the flow of goods between the two countries. Tags: algeriaAlgerian GovernmentlibyaTrade
