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
-
BGFIBank Targets African Mining Sector Expansion at Mining Indaba
10:46
-
Ghana Moves Toward First Commercial Marine Aquaculture Project
10:43
-
DRC: Tech Entrepreneur Benjamin Kalombo Mukena Expands Digital Training Initiatives
10:34
-
Airtel Africa Foundation Awards $1 Million in ICT Scholarships to Ugandan Students
10:32
-
Cameroonian Entrepreneur Blaise Buma Expands Cross-Border Payments With Kappa Pay
10:32
-
UMOA Sanctions Three Banks Over Prudential Rule Breaches
09:49
-
BlueInvest Africa Seeks Ocean Startups to Pitch Blue Economy Solutions
08:42
-
OpenAI Tests Ads on ChatGPT for Free Users in the U.S.
08:26
-
Togo signs 5-year IAEA Agreement to expand peaceful use of nuclear technologies
20:33
-
Cameroon issues inaugural 15-year Treasury bond in CEMAC zone
20:25
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...
MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...
Rwanda, partners break ground on $2 billion Kigali Innovation City Smart city targets ...
The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...
BGFIBank is expanding its institutional presence in African mining finance, with a focus on the DRC and Ivory Coast. African banks, including AFG Bank,...
Flosell Limited plans Ghana’s first commercial-scale marine aquaculture project in partnership with Norwegian firms. The project will begin site...
Airtel Africa Foundation allocated 3.85 billion Ugandan shillings (about $1 million) in fully funded scholarships to 20 students. The...
MTN’s Bayobab signed a partnership with Mozambique’s TMCEL to provide international voice, roaming and IPX services. MTN served 301.3 million...
Porlahla Festival ends third edition in Kouto, promoting Senufo culture Event draws regional and international participants, boosting cultural...
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...