Egyptian Prime Minister Mostafa Madbouly with his Algerian counterpart, Nadir Larbaoui during a joint press conference. Photo courtesy of Egyptian cabinet.
Speaking at a joint press briefing with his Algerian counterpart, Nadir Larbaoui, Madbouly said current trade between the two countries stands at around $1 billion, an 18 percent increase.
“This places a significant responsibility on both governments to meet the aspirations of our peoples for greater trade, particularly in the key industrial and development sectors discussed today,” he pointed out.
Madbouly said both sides had agreed on a set of priority sectors and that he and Larbaoui would follow up regularly through the joint committee to ensure “actual implementation” of the agreed projects.
He highlighted Egypt’s economic reforms over the past decade, including major construction plans that have led to the establishment of 22 new cities and the recently introduced investment incentives.
“We have a rich experience that we are eager to share with our brothers in Algeria,” he said.
Madbouly added that he hoped the Business Forum taking place alongside the committee meetings would encourage private-sector cooperation and joint projects drawing on both countries’ economic strengths and technical expertise.
He said the two sides were looking to develop “large-scale projects” that meet domestic needs while opening export opportunities to markets across the Arab world, Africa and the Mediterranean.
Priority areas for cooperation, according to Madbouly, include agriculture and food security, transport and logistics, communications and information technology, renewable energy — including green hydrogen — and industrial localization.
Ports, housing, urban development and tourism are also areas of shared interest, along with emerging fields such as artificial intelligence and digitalization, he pointed out.
For his part, Larbaoui said Egypt and Algeria seek to strategically enhance their relations to leverage the great potential of both countries' economies.
Following the committee meeting, co-chaired by both prime ministers, the two sides signed a series of agreements across multiple sectors, including economic cooperation, trade, infrastructure and development, human resources and training.
Additional agreements covered education and research collaboration between universities, as well as social and legal affairs, including social solidarity, parliamentary and legal cooperation, and national archives.
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