UAE Minister of Economy (MoE) H.E. Sultan bin Saeed Al Mansouri will lead the UAE delegation to the 6th Session of the UAE-Algerian Joint Commission being held from June 24 to June 25, 2008, in Algiers, Algeria. The delegation will comprise representatives from related federal and local bodies, the private sector, and various other sectors.
MoE Undersecretary H.E. Mohammed Ahmed Bin Abdulaziz Alshihhi explained that this meeting responds to a mutual need to study various aspects of the development of economic relations between the UAE and Algeria in light of the significant gains in their bilateral ties. He also stated that the session would provide a venue to create mechanisms that would further enhance this relationship and thus realize the goals of the respective leaderships of both countries.
H.E. Alshihhi added that the meeting will discuss several topics and issues of common interest, particularly in the fields of investment; trade; the environment; employment; youth; sports; water resources; and customs. It will also tackle ways to enhance the private sector’s role in improving cooperation and increasing joint investments between the two countries.
In this context, Ministry officials recently held a meeting to coordinate with ministerial representatives, national institutions, local economic departments, and members of the private sector included in the UAE delegation who had already reviewed the issues and topics to be included in the Commissions agenda.
H.E. Alshihhi emphasized the importance of coordinating among the various national institutions participating in the meeting to formulate a unified national action program which will address priority issues to be presented before the Algerian side.
During the 5th Session held in 2007, the UAE and Algeria signed six agreements and memorandums of understanding covering employment and professional relationships; tourism; higher education; scientific research; and desalination of sea water. Both countries honour several bilateral diplomatic and customs agreements aimed at broadening mutual cooperation and creating the appropriate environment to encourage stronger trade and economic relations.
The UAE and Algeria have witnessed significant gains in their bilateral relations over the past few years, reflecting a shared eagerness to expand cooperation to complement their respective economic goals. Total trade between the two countries increased from USD 227 million in 2002 to USD 414 million in 2006 at an annual growth rate of 16 per cent; exports and re-exports from the UAE to Algeria rose from USD 227 million to USD 414 million during the same period, concentrated mainly on machinery; equipments; transport tools; stone products; metal and plant materials; and textiles.
