Visiting Turkish President Recep Tayyip Erdogan (L) and Algerian Prime Minister Ahmed Ouyahia attend the Turkish-Algerian Business Forum in Algiers, Algeria, Feb. 27, 2018. Turkey and Algeria vowed Tuesday to increase their annual trade to 10 billion U.S. dollars in the near future, during Turkish President Recep Tayyip Erdogan's visit to the North African country. (Xinhua)
ALGIERS, Feb. 27 (Xinhua) -- Turkey and Algeria vowed Tuesday to increase their annual trade to 10 billion U.S. dollars in the near future, during Turkish President Recep Tayyip Erdogan's visit to the North African country.
This goal was revealed by Erdogan in his opening remarks to the Turkish-Algerian Business Forum Tuesday, which he co-chaired with Algerian Prime Minister Ahmed Ouyahia.
The annual volume of Turkey-Algeria trade, currently around 3.5 billion dollars, would be raised to 5 billion dollars within a short period, Erdogan said, before hitting the goal of 10 billion dollars in the future.
Erdogan specified such a goal could be reached especially thanks to all the facilities offered by Algeria to Turkish businessmen wishing to enter the North African nation's market.
Erdogan said cooperation between the two countries will be reinforced "after the signing of seven cooperation agreements in various sectors, such as tourism, energy and agriculture."
The Turkish leader further noted that Algerian energy giant Sonatrach and a group of Turkish energy companies will cooperate in a 1-billion-dollar project to establish a plant for the production of 450 tons of propene per year.
In this regard, Erdogan assumed that such a project will help Algeria overcoming its balance deficit.
Erdogan expressed his satisfaction with the quality of the projects carried out by the Turkish companies in Algeria, including those related to iron, steel and textile.
More than 200 businessmen from both countries activating in sectors of textile, food industry, petrochemicals, electronics and agriculture took part in the forum to seek cooperations.
Earlier on Monday, Algeria and Turkey inked seven partnership agreements and memorandums of understanding in various sectors including energy, diplomacy, culture, tourism and agriculture, aiming at reinforcing partnership between the two nations.
Ouyahia said the Algerian government will endeavor to accelerate the implementation of all the agreements that have been signed.
The prime minister further assumed that the meetings and exchanges between Algerian and Turkish delegations, as well as the bilateral business forum offer new opportunities to develop bilateral partnership.
Hailing the existence of 800 Turkish firms activating in Algeria, Ouyahia said Turkey is the sixth customer and the seventh largest commercial supplier of Algeria, with an overall trade volume of some 4 billion dollars in 2017.
Later on Tuesday, Erdogan was received by Algerian President Abdelaziz Bouteflika, as they discussed the outcome of this state visit and ways to further boosting bilateral cooperation.
The two officials also discussed prevailing issues of common interest, including the war in Syria.
The visit of Erdogan to the North African nation is part of his African tour, as he is due to visit Mauritania, Senegal and Mali.