Economic and commercial ties between Qatar and Algeria strengthened further with Algerian President Abdelmadjid Tebboune meeting with Qatari Businessmen Association (QBA) delegates, headed by its Chairman Sheikh Faisal bin Qassim Al Thani, in Doha.
Tebboune arrived in Doha recently and was one of the state heads who attended the sixth summit of the Gas Exporting Countries Forum, which concluded in Doha on Tuesday.
The meeting with Tebboune was attended by Qatari Businessmen Association members Nasser Al Haider, Sheikh Mohamed bin Faisal, Ashraf Abu Issa, Moataz Al Khayat, Faisal Al Mana, Mohamed Althaf and Sheikh Jassim bin Faisal Al Thani.
At the beginning of the meeting, Sheikh Faisal welcomed the Algerian president, stressing the importance of the meeting, which represents a positive step for strengthening Qatari-Algerian relations and achieving more economic cooperation, which contributes to opening bridges of communication and encouraging investors in both countries to develop joint investments.
Sheikh Faisal also spoke about his own experience as an investor in Algeria, focusing on the importance of the Algerian market and its great natural and economic potential, in addition to the presence of vast and fertile lands that could be an interest to investors in the agricultural field, highlighting the keenness of Qatari businessmen to discuss the potential cooperation and investments in both countries in order to achieve mutual benefits.
It is worth noting that Sheikh Faisal bin Qassim heads the Qatari-Algerian Business Council on the Qatari side, Kamal Mulla heads the Algerian side in the council. The council was recently reactivated during the global health crisis, and meetings were held virtually in the presence of the Ministers of Commerce in both countries as an affirmation of the strong relations and the bilateral solidarity to develop relations with economic institutions and to create a platform for exchanging views and discussing investment opportunities in both countries.
For his part, Tebboune expressed his happiness with the meeting, praising the brotherly and growing relations that have been refined by decades of economic cooperation, so that Qatar has become the largest Arab investor in Algeria and accounts for 74 percent of all foreign investments in the country, thanks to the sustainable development policy pursued by Algeria and the introduction of a number of laws and legislation that are aligned with international standards, in addition to the great similarity in the investment climate in the two countries, which created strong partnerships between them. President Tebboune also considered that Algeria’s location offers great advantages to investors, especially its openness to the European and African markets, and its relations with all African and European countries, which encourages the Qatari investor to establish his investment in the country.
At the end of the meeting, QBA members expressed to the Algerian president their hope that the meeting would constitute a step towards strengthening relations and achieving more economic and commercial cooperation.
Trade between Qatar and Algeria amounted to about QR148 million in 2021.