Turkey to increase trade with Algeria to $5bln
Monday, 27 January 2020 14:33
Turkey plans to increase its trade with Algeria from about $4 billion currently to $5 billion “very soon,” Algeria’s President Abdelmadjid Tebboune (pictured) reported. The announcement was made during the visit of Turkish President Recep Tayyip Erdogan as part of a revitalization of Turkey's economic relations with its African partners, notably Algeria where it is the leading foreign investor.
In 2018, the Turkish Head of State had announced his intention to increase Turkish-Algerian trade to $10 billion over the next few years. During the visit, the two Heads of State concluded agreements aimed at intensifying cooperation in several sectors, including a contract enabling Algeria to supply Turkey with liquefied natural gas (LNG) until 2024. A project for the creation of a free trade area between the two countries was also discussed.
President Erdogan will also visit Senegal and Gambia in particular. His tour is a prelude to the next Africa-Turkey summit scheduled for April 2020.
Moutiou Adjibi Nourou
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Nigeria Calls on NNPC Ltd to Bid for New Oil Blocks
18:50
-
Africa’s Two-Wheel Motorcycle Market Expands as Cities Face Safety and Price Pressures
18:28
-
U.S. Commits $156 Million to Strengthen Burundi’s Health System Over Five Years
18:21
-
South Africa to Withdraw MONUSCO Troops by End-2026
18:02
-
Cameroon municipalities defend CFA21.4bn solar streetlight project amid controversy
17:58
-
Cameroon names first five companies to support industrial expansion
17:45
-
Africa Looks to India as Digital Governance Partnerships Expand
17:09
-
Gabon Partners With UAE’s Presight to Deploy AI in Public Administration
17:04
-
Cameroon audit flags high rental costs weighing on state debt recovery firm
16:24
-
Togo Launches Preparations for Third National Household Living Conditions Survey
16:08
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Visit scheduled from February 4 to 6, 2026, at the invitation of President Hakainde Hichilema Tal...
The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...
Nigeria launched a 50-block oil licensing round in December 2025 and eased financial terms in January 2026. The upstream regulator urged state-owned...
Africa’s two-wheel motorcycle market should reach $5.55 billion in 2026 and $7.29 billion by 2031, driven by urbanization and informal...
The United States committed $156 million to Burundi’s health sector over five years under a new memorandum of understanding. Burundi must...
South Africa decided to withdraw more than 700 troops from the UN mission in the Democratic Republic of Congo by end-2026. Pretoria cited the...
Essaouira is a coastal city in Morocco, on the Atlantic Ocean, in the Marrakech–Safi region, about two and a half hours by road from Marrakech. It stands...
The Pan African Film & Arts Festival (PAFF) will run from February 7 to 22, 2026, in Los Angeles, positioning itself as a major soft power platform for...