Egypt’s PM calls for alternative routes with Algeria to facilitate trade

Ahram Online , Wednesday 29 Jun 2022

Egyptian Prime Minister Mostafa Madbouly stressed the importance of finding alternative trade routes with Algeria to facilitate goods’ shipping between the two countries rather than the land route passing through Libya amid current circumstances there.

Mostafa Madbouly
Egyptian Prime Minister Mostafa Madbouly speaks during the eighth round of the joint Egyptian-Algerian higher committee. Egyptian Cabinet

 

Madbouly’s statements came in his speech during the meeting of the eighth round of the joint higher committee between both countries held in Algiers.

He said that the regular maritime trade route between Egypt and Tunisia, which both countries agreed to place under study, could be extended to reach the Algerian ports.

“The current circumstances in Libya should not prevent the search for alternative ways to facilitate trade between Algeria and Egypt,” Madbouly said during his speech.

The Egyptian PM urged boosting Egyptian-Algerian trade exchange, stating that the current volume of trade exchange between both countries is “not in line with the production and export capabilities of our two countries and the needs of their markets”.

Madbouly hailed the Algerian government’s decision to abolish its negative imports list for goods between the two countries, saying that the step should contribute to boosting trade exchange between the countries.

The Egyptian PM expressed hope that Algeria would also abolish non-customs restrictions imposed on another list of goods and facilitate procedures of releasing goods at Algerian ports.

Madbouly hailed Algerian President Abdelmadjid Tebboune’s plan to construct a million housing units project, urging Egyptian contracting companies to participate in accomplishing the project.

The premier also urged establishing partnerships between Egyptian and Algerian capitals to implement joint industrial projects.

Madbouly renewed his invitation for Algeria to participate in the 2022 UN Climate Change Conference (COP27), which Egypt will host in November this year.

He said Algeria’s orientation toward expanding the production of clean energy is consistent with the Egyptian national endeavours and international efforts in the face of climate change.

Madbouly and his Algerian counterpart, Ayman Benabderrahmane, chaired the joint committee meeting today in the presence of Egyptian and Algerian ministers and officials, including ministers of energy, higher education, housing, and trade of both countries.

Egypt and Algeria have been keen on intensifying their bilateral relations at the political and economic levels over the past years, as well as coordinating on regional issues, including Libya, Syria, Palestine, and terrorism in Africa and the Arab world.

President Abdel-Fattah Al-Sisi received Tebboune in Egypt last January and affirmed that their talks focused on fostering bilateral political, economic, and commercial relations.

In 2021, Egypt’s non-oil exports to Algeria increased by 14 percent and the value of commercial exchanges between the two countries bounced back by 15.4 percent to $1 billion after the pandemic, according to economic commentator Karim Al-Omdain.

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