Algeria-Czech Republic Business Forum: CACI highlights investment opportunities

ALGIERS-The President of the Algerian Chamber of Commerce and Industry (CACI), Kamel Hamni, called on the Czech business community to invest in Algeria, calling the business climate "conducive" to the development of an economic partnership beneficial to both countries.

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In his welcome address to the Algeria- Czech Republic Business Forum, attended by the Czech ambassador to Algiers, Jan Czerny, and the vice-president of the Czech Chamber of Commerce, Radek Jakubsky, Hamni underlined CACI's readiness to "boost” economic and trade cooperation between companies in the two countries, through the organization of business trips and meetings between Algerian businessmen and their Czech counterparts.

This forum, held on the sidelines of the 55th AlKgiers International Fair (FIA 2024), is a further step in the cooperation between the two chambers to develop bilateral trade, deemed to be "well below existing potential,” pointing out that Algeria’s exports to the Czech Republic did not exceed US$300,000 in 2023, compared with import worth US$130 million from this Central European country.

In addition to the importance of the commercial partnership, Hamni stressed the importance of developing direct investment in Algeria, highlighting the advantages and facilities offered to foreign investors. He referred to access to land, the competitive energy cost and the skilled human resources.

For his part, Radek Jakubsky, Vice-President of the Czech Chamber of Commerce, highlighted the opportunities for Algeria to invest in his country, which represents "a gateway to the European market.”

For his part, the Czech ambassador spoke of the historical ties between the two countries, underlining the role of economic diplomacy in further developing this bilateral cooperation, through ongoing participation in trade fairs, which he considers one of the concrete steps in developing privileged relations with Algeria.

The Secretary General of the Czech Ministry of Industry and Trade, Vladimir Mana, expressed his country's willingness to foster cooperation in strategic sectors such as energy, mining, agriculture and the knowledge economy.

"We need to bolster trade and economic ties further, building on the many successful experiences of Czech companies on the Algerian market,” he affirmed, stressing that his country considers Algeria one of the most promising trading partners in the Mediterranean.[/ecr]