Economy, Domestic Economy

Iran, Algeria Call for Expansion of Economic Ties

Iran, Algeria Call for Expansion of Economic TiesIran, Algeria Call for Expansion of Economic Ties

Iran is ready to strengthen economic ties with Algeria in light of favorable political relations between the two countries, said Minister of Roads and Urban Development Abbas Akhoundi in a meeting with the new Algerian ambassador to Iran.

To become more familiar with Iran’s engineering capabilities, Akhoundi who also serves as the Iranian head of Iran-Algeria Economic Cooperation Commission, invited Abdelmoun’aam Ahriz to pay a visit to the development projects run by Iranian companies in Algeria, IRNA reported.

The Algerian diplomat in turn signaled his country’s willingness to expand bilateral relations with Tehran and added that the recent meetings of agriculture, industry, public services and water resources joint committees were all held in an orderly fashion.

He also called for, among other things, the development of ties in tourism, housing, road construction and dam building.

This comes as the Iranian Mines and Mining Industries Development and Renovation Organization has recently announced that Iran can provide the North African country with the copper it needs for its industries.

Algeria’s imports from Iran constituted 97% of the $7 million trade between the two countries in 2014. The value of Algeria’s exports to Iran stood at $120,000. Industrial machines were the main items Algeria exported to Iran.