Algeria, October 29, 2018

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3rd session of Algerian-Mauritanian Business Council to be held in Algiers in 1st half of 2019

Algerian-Mauritanian Business Council recommended Friday, in Nouakchott, the opening of Algerian bank branches in Mauritania and Mauritanian banks in Algeria, calling for using barter in business transactions between the two countries.

These investments, which aim to “diversify payment methods”, will ease the procedures for the transfer of funds and payment transactions. This will increase the volume of investment and trade in several areas, such as the agri-food sector, agriculture, pharmaceuticals, public works, renewable energies and the mechanical and electronic industries.

The Council also recommended the examination of an effective method allowing the conclusion of a preferential trade agreement between the two countries, an agreement which will take into account the interests of the two countries with the creation of an ad-hoc commission for this purpose.

At a meeting chaired by Mr. Mohamed Lafdal Betah, Vice-President of the National Union of Mauritanian Employers (UNPM) on the Mauritanian side, and Mr. Youcef El Ghazi, President of the Chamber of Commerce and Industry of Bechar on the Algerian side, both sides expressed their willingness to overcome obstacles and exploit all the potentialities and opportunities available for investment in both countries, namely; Algeria and Mauritania.

They agreed, in this regard, to hold the third session of the Algerian-Mauritanian Business Council in Algiers in the first half of 2019.

There were also talks on the creation of an executive bureau by the Mauritanian side under the UNPM presidency and another one by the Algerian side under the presidency of the Algerian Chamber of Commerce and Industry, whose mission is to work towards the implementation of all the recommendations arising from the Council’s joint meetings.

Dzbreaking



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