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Addressing the participants in the Algeria-India Economic Forum, Murmu stated that “Algeria’s accelerating economic growth provides opportunities to develop business partnerships in several fields, like the pharmaceutical industry, ICTs, startups, agriculture and aerospace.

“It is time to strengthen the partnership and engage in a new cooperation era between the two countries, bound by solid historical friendship ties and share common principles on international issues,” affirmed India’s president on the occasion of this event, in which many businessmen and investors from both countries participated.

Themed “A Steady Step Towards Building Fruitful Economic Cooperation,” the Forum was attended by several Government members and representatives of the Algerian Chamber of Commerce and Industry (CACI) and the Algerian Economic Renewal Council (CREA).

After commending Algeria’s reforms in several economic and investment-related fields, Murmu stated that India “is a strong development partner to Algeria,” stressing that her country seeks to launch trade and investment initiatives in the future.

Investment opportunities remain open in numerous sectors like energy, fertilizers, pharmaceutical industry and renewable energy, in addition to boosting trade, which amounts to US$1.9 billion per year, in the future.

The host of Algeria also presented the indicators of India's economy, with a size worth nearly US$4 trillion, based on reforms that have affected several sectors, reaffirming the willingness of the Indian side to “share its expertise with Algerian companies.”

Murmu also highlighted the role of her country's companies operating in Algeria in strengthening bilateral economic cooperation, underlining the importance of the Bilateral Economic Forum as a “major step forward in the process of fostering cooperation between Algeria and India.”[/ecr]