Turkey plans to expand its trade with Algeria
The Algerian government is seeking to give new impetus to foreign economic investments, through the new investment law that singles out local and foreign capital with advantages and incentives for foreign companies, and is counting on the rapprochement between Abdelmadjid Tebboune, Algerian president, and Recep Tayyip Erdogan, Ottoman president, to benefit from Turkish investments, which is what is being considered in various investment activities in Algeria. The Algerian president's visit to Turkey last May culminated in the conclusion of 15 agreements between the two countries covering various sectors, including vital areas such as armaments, warship manufacturing, drones, energy and minerals, among others.
"Our meeting with President Tebboune gave us the opportunity to provide him with a comprehensive overview of our partnership and energy cooperation as part of the follow-up to the Algerian-Turkish joint commission," said Turkish Minister of Energy and Natural Resources Fatih Donmez, who noted that Tebboune "encouraged and motivated to further develop bilateral relations and the consolidation of opportunities for joint action" between the two countries.
Fatih Donmez said in Algiers on Thursday that relations with Algeria are "improving" and that Turkey plans to increase investment and trade with the North African country to $10 billion. The Ottoman country is forcing to consolidate its position in Algeria by seizing the opportunity of the new investment law by acquiring open government investment opportunities, embodying Ankara's ambition to become the favoured and reliable partner for Algeria, as well as ratifying its oil and gas needs in the face of intense competition among major consumers, putting a foot on firm ground for expansion in the Maghreb and Africa.
At the Algerian presidential palace, the Turkish minister told a press conference held in the presence of his Algerian counterpart Mohamed Arkab that the letter does not exclude that the emphasis on strengthening the partnership and collaboration between the two countries in various fields, including politics, energy and defence, was not excluded.
"Investments and trade between Algeria and Turkey are around $5 billion and we aim to raise them to $10 billion, which is the goal set by the two presidents for the coming years," the Turkish minister told reporters after his meeting with Algerian President Abdelmadjid Tebboune. "Economic, commercial, political and cultural cooperation between Turkey and Algeria is gaining momentum, and the will and determination of the governments and businessmen of both countries to further develop this relationship," the Turkish minister's statement said. "Turkey hopes to expand cooperation between the two sides, including in important areas such as defence, arms and energy".
The focus seems to be on the current situation in energy and defence, with Ankara wanting to secure energy supplies from its North African partner, and Algeria, in turn, wanting to benefit from warship and drone technology. A report by Turkey's official Anadolu Agency alluded to Ankara's desire to expand Turkey's outreach project in the region and the African continent in general from Algeria, and its desire to compete with the major powers in the battle for influence on the African continent, as reported to Al-Arab.
The report was more essentially aimed at the European focus on energy sources in Africa, which puts producers such as Algeria, Nigeria and Angola under the microscope of the Turks, who are working on a methodical scouting exercise not to miss the chance to enter the competition from Algeria. The Algerian minister referred to the extension of contracts between Sonatrach and Turkey's Botas, and that Turkish companies have also explored opportunities for joint investments in the hydrocarbon sector with Sonatrach. The Anatolia report referred to pipelines being built from Nigeria to Europe, either linking it to Morocco or via the line through Algeria, and even from Libya, which has received assurances from Ankara to start up the pipeline between it and Nigeria.