October 29, 2024 | 3 days ago

Algerian-Egyptian cooperation: Energy and building in line of sight

The working visit by the President of the Republic, Abdelmadjid Tebboune, to Egypt was an opportunity for the two countries to reaffirm their commitment to further strengthening economic cooperation and trade exchanges. The Egyptian President Abdel Fattah Al-Sissi, the Head of State reiterated Algeria's commitment to consolidating the historic relations linking both countries and cooperation in different fields, notably in the economic sphere.

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Algeria and Egypt are stepping up cooperation in the energy, housing and construction sectors. President Tebboune invited Egyptian companies to participate in Algeria's ambitious plan to build two million housing units over five years and in energy projects such as petrochemicals, gas and electricity. Egypt's Elsewedy Electric, already established in Algeria, could contribute to key infrastructure projects, including the north-south electricity transmission line.

These collaborations will be further outlined during the upcoming Algeria-Egypt Joint Commission 2025,  expected to boost investment and increase exchanges between the two countries. President Al-Sissi underlined that more than 5,000 Egyptian companies are ready to invest in Algeria and pledged Egypt's support in promoting bilateral investments.

October 29, 2024 | algeria-logo