Algerian Prime Minister Ahmed Ouyahia has annuled the ban on French investments in Algeria and the embargo imposed by the Algerian highest authorities due to the diplomatic crisis between the two countries.

Ouyahia instructed all relevant ministries to remove ban on French companies in Algeria, as well as French projects under implementation, the Algerian newspaper “Al Shorouk” said on Wednesday.

Following a meeting with Ouyahia and Mohamed Ben Moradi, Minister of Industry and Investment Promotion, Jean-Pierre Raffarin, the Special Envoy of the French President, revealed the presence of 12 industrial partnerships currently under negotiation between the two parties.

Ben Moradi recently announced that "Renault", the French car maker, plans to prduce 75,000 cars per year as of 2012.