16-19 April 2011 in Algiers
Following the recent visit by FCO Minister, Alistair Burt to Algiers, the UK-Algeria Business Council (UKABC) organises its first Trade Mission to Algiers on 16-18 April 2011.
Algeria is considered one of the richest countries in Africa combining unmatched human and natural resources where the World Bank forecasts a 4%GDP growth in 2011. Algeria is enjoying great stability and currently benefiting from a strong external and budgetary positions with large foreign currency reserves estimated at $150 billion and is a virtually debt free country (current international debt at $440 million), an enviable position to be in considering the current economic climate.
Algerian officials have on many occasions expressed their willingness to welcome foreign investors and made it public that, along with many attractive incentives, 20bn Euros is awaiting foreign investors who are able to bring their know-how and expertise to contribute in building a strong and sustainable economy and reap great financial rewards in exchange. Algeria is seeking long lasting partnerships with the West and leading economies based on equality, understanding and common interests under a win-win formula as recently stated by The President of Algeria, Abdel-Aziz Bouteflika.
Within the country’s development program (2010-2014) which is on stream with an envelope of more than $380 billion, Algeria is seeking a progressive transition into a Market Economy and intends to invest over $286 billion towards projects that are of national interest promoting massive job creation, the emergence of a strong private sector and satisfying a booming local market.
Sectors like infrastructure construction and upgrading, SMEs, Renewables and Waste Management, Education and Professional Training, banking, financial Services and Islamic Finance, Information Technology, Telecoms, R&D and innovation, Tourism and Agriculture are top priority in Government policies.
In its recent initiatives to promote Algeria as an attractive destination for investment, many International business delegations arrived in Algeria such as the American Delegation (25-30 September 2010), Polish Delegation (21-27 September 2010) and a Russian delegation (6-8 October 2010).
UK trade exchange with Algeria has more than doubled in the last 5 years reaching £867million. British expertise in innovation (R&D), strong customer service and Know-How could well compliment the booming Algerian Market; hence the government invites British Companies to form a strong partnership with public and private companies in the different sectors of the economy.
The Trade Mission Visit will be a great opportunity for the participants and delegates to understand better and seize the available business opportunities in Algeria and to network with their Algerian counterparts including policy makers and discuss common interests and exchange views and experiences. Delegates will have the exclusivity to get familiar with the newly published Complementary Financial Law 2010 as well as the New Financial Law 2011 scheduled for adoption this December and its implications on Investments in Algeria.
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