Algeria, Saudi Arabia Sign MoU On Trade Cooperation

Algeria and Saudi Arabia signed Tuesday, in Riyadh, a memorandum of understanding in trade cooperation as part of the official visit paid by Prime Minister Abdelmalek Sellal to Saudi Arabia.

This agreement was signed, on the Algerian side, by Minister of Maghreb Affairs, African Union and Arab League Abdelkader Messahel and Minister of Commerce and Investment Majed Al-Kassabi, on the Saudi side.

The agreement focuses mainly on the protection of consumers and the control of the quality of goods and services as part of commercial exchanges between the two countries.

Trading between the two countries reached US$619 million in 2015. Algerian imports exceeded US$612 million while Algeria’s exports to this country didn’t exceed US$7 million.

The discussions between the two delegations allowed assessing the bilateral cooperation and examining ways likely to develop and diversify it in various fields.

Prime Minister will take part on Wednesday in an economic forum aimed at encouraging the two countries’ economic operators and developing productive investment as well as increasing partnership initiatives.

Credit: All Africa