Algeria’s Doors Are Open to American Investors

Algerian ambassador to Washington Madjid Bouguerra said that Algeria’s doors are open to American companies, who should seize the economic opportunities offered by the country.

“What we ask from the United States is to ensure that the American business community and American companies have their share of opportunities offered by Algeria,” said the ambassador in a interview granted, in June, to Al-monitor, an information website specialized in Middle Eastern affairs.

“The doors are open to them in several sectors,” added Bouguerra.

Over the past years, the two countries put in place several mechanisms to strengthen their bilateral relation by establishing a strategic and military dialogue and by creating a business forum.

But their trade exchange dropped, going from USD24 billion in 2012 to USD7 billion in 2015 because of the significant decline in Algerian oil and gas exports to the United States, explained Bouguerra.

“On the economic level, we had much stronger relations when the United States imported oil and gas from Algeria.”

“Unfortunately, it is no longer the case since last year,” he said.

Like the other countries rich in natural ressources, Algeria wants to create an economy to prepare for the post-oil period, added Bouguerra.

Credit: All Africa