(Ecofin Agency) - Trade between Algeria and Turkey now exceeds $5 billion, according to the Algerian government. Both countries hope to increase the figure in the future, leveraging new agreements in new sectors. 

Algeria wanted to double its trade with Turkey, bringing it to $10 billion in the medium term. The goal was disclosed by the Algérie Presse Service (APS), quoting Algeria’s Ministry of Foreign Affairs.

The Algerian Minister of Foreign Affairs, Ahmed Attaf (on the left), recently met with his Turkish counterpart, Hakan Fidan (on the right) in Turkey. On the occasion, Attaf noted that "Algeria has become Turkey's second-largest trading partner in Africa, with bilateral trade exceeding $5 [billion, ed. note], and the leading destination for Turkish direct investment whose current value exceeds $6 [billion, ed. note]”.

The Algerian also emphasized that Turkey is the country’s “first non-hydrocarbon foreign investor.” Indeed, the Ottoman Empire boasts nearly 1,500 companies covering a variety of sectors, with over 30,000 jobs secured, he added.

APS reported that Attaf was in Turkey for a working visit, ahead of the second session of the Algerian-Turkish Joint Planning Commission, which will be held during Turkish President Recep Tayyip Erdogan's visit to Algeria "very soon".

Algiers and Ankara should, during Erdogan’s visit, sign agreements in several sectors, such as investment, trade, energy, education, and culture. 

"In addition to important sectors such as metallurgy, steelmaking, textiles, construction, and public works, which have been the main bilateral success stories, the Algerian-Turkish economic partnership is now extending to new sectors, following the example of renewable energies, mining, Saharan agriculture, and the pharmaceutical industry," said Minister Attaf.

Expanding trade is not a recent ambition of Turkey and Algeria. In 2018, President Erdogan had already expressed this desire, backing it with the same motivations. 

Charlène N’dimon (intern)