[ecr]

On the sidelines of the Algerian-Pakistani Business Forum, held on the 55^th Algiers International Fair (FIA), the ambassador said that “Algeria’s business climate is favorable, hence the importance of exploring all avenues to encourage Pakistani economic operators to invest there. We will also examine means to attract their Algerian counterparts to invest in Pakistan.”

 According to the Pakistani Diplomate, the goal is to increase the commercial transactions between the two countries, to attain USD1 billion in 10 years, hence through intensifying meetings and work visits between the delegations of both countries, in order to enquire about the needs of each country.

 The President of the Algerian Chamber of Commerce and Industry (CACI), Kamel Hamenni, affirmed that “despite the low level of trade between the two countries, this remains in favor of Pakistan, leading us to propose investment opportunities, notably in the textile industry so as to restore the exchange balance,” CACI’s president told the press, on the sidelines of the Forum.

 For him, Algeria is ready to open the doors of the African market to the Pakistani investors, across  the African Continental Free Trade Area (ACFTA) and the Greater Arab Free Trade Area (GAFTA).  [/ecr]