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ICCI President seeks Algeria's help to overcome energy crisis April 28, 2013
Meeting at ICCI
 
Pakistan and Algeria are enjoying excellent political relations but the economic relations are not satisfactory, Therefore both the countries should strengthen bilateral trade ties by establishing direct contact between the business communities of both the countries.
 
These remarks were made by H.E.Mr. Dr.Ahmed Benflis, Ambassador of Algeria in Pakistan while addressing business community of Islamabad Chamber of Commerce & Industry (ICCI). He said that Algerian Economic reforms and its social sectors are playing major role for the betterment of its people as well as it offers great opportunities for investment in various industrial and agricultural sectors.
 
He said that we have rich oil and gas reserves, exporting LNG to several countries like Italy, Spain and France. Therefore, Pakistani entrepreneurs and investors could further develop trade relations with their brotherly country Algeria for the mutual benefits of two countries, he maintained. 
 
The Ambassador also informed that recently Algeria has signed a MoU with Pakistan in the field of trade and commerce with an aimed to boost up the trade and commercial ties between two brotherly countries. 
 
He said that an international exhibition would be held in May and June this year in Algeria and hoped that Pakistani businessmen would avail this opportunity by taking part in this exhibition and introducing their products there.
 
In his welcome address, Mr.Zafar Bakhtawari, President ICCI Pakistan and Algeria have always enjoyed extremely cordial and friendly relations as Pakistan was one of the first countries to recognize the Provisional Government of Republic of Algeria. He said that both the countries were facing the problem of terrorism and expressed hope that we would overcome this menace very soon. 
 
He said that Pakistan is in deep energy crisis, therefore, Algeria should help its brotherly country Paksiatn by increasing exports of Liquefied Natural Gas (LNG). Similarly, Pakistani businessmen could also explore the opportunities and export of rice and textile products directly to Algeria.
 
Mr.Bakhtawari said that Algeria is Pakistan's important trading partner but still trade volume between both the countries is negligible if taking account of trade volume of Algeria as US $124 billion in 2012. He stated that there are vast prospects of expansion of bilateral trade including joint venture in textile, agro-based industry, leather goods, oil and gas and IT and pharmaceutical. 
 
ICCI President said that by enhancing direct contacts between private sectors of both countries and facilitating them in their efforts, Pakistan and Algeria have the potential to take bilateral trade manifold in the near future.

 
 
 
 
   
 
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