Ambassador of Algeria visits DCCI

H.E. Abdurrahman Al-Mutaiwee, Director General of DCCI received the Algerian Ambassador. He welcomed his guest, and during the interview the bilateral economic and trading relations between the two sister countries and ways of enhancing them were discussed.

Al-Mutaiwee briefed the Algerian Ambassador to the role the DCCI plays in enhancing the economic move in Dubai, supporting the businessmen in their strive to develop their activities and providing investors with opportunities and enabling them to communicate and interact with the local, regional and international business communities.

"Our brothers in Algeria must work to push the economic move to shift from the state-run economy to the free market one, due to the stability Algeria is witnessing at all levels and the rise in oil prices, which plays a key role in elevating the economic growth and pushing the wheels of development forward," said Al-Mutaiwee.

"It's very important that our brothers in Algeria must launch a campaign promoting the investing and trading opportunities the country, including oil and gas sectors, in order for them to attract the foreign investments necessary for the development of their national economy. Other nations' experiences need to be made use of, like Eastern European countries who switched from state-run socialist economies to free market ones within ten years. Efforts have to be exerted towards the eradication of bureaucracy and routine to speed up executing commercial transactions of all types, and the best way to achieve that is done through the e-government concept in which Dubai has marked remarkable achievements," he added.

"We should necessarily benefit from Dubai's leading experience and the economic achievements it has accomplished in all trading, financial, tourism and real estate sectors, and we will send a trading mission to Dubai to see on the ground that leading experience. We have formed a Joint UAE-Algerian Committee that will meet on 3rd May in Algeria , and in line with this committee's meeting, the UAE-Algeria Businessmen Forum will convene," said the Ambassador of Algeria.

He also said that his country is now enjoying stability and rise in the state budget exceeding for the first time $55 billion thanks to increased oil prices, that led to paying a large deal of Algeria's foreign debts off, and he expects that Algeria will sign on the World Trade Organization Agreement this year.

According to DCCI's statistics, Dubai's non-oil trade with Algeria in the year 2004 was AED 1.45 billion, re-exports were AED 1.4 billion, while Dubai's exports were AED 43 million and its imports from Algeria were more than AED 3.7 million.