Economy, Domestic Economy

Algeria Signs MoU

Algeria Signs MoU
Algeria Signs MoU

Algeria and Iran signed a memorandum of understanding (MoU) on Monday to give fresh impetus to bilateral cooperation in the public works.

The agreement was signed by the chairman of Algerian Infrastructure Affairs, and the director general of international affairs at Iran’s ministry of roads and urban development, in the presence of Iran’s ambassador to Algiers, Reza Ameri, and representatives from Iranian and Algerian companies.

The Iranian delegation expressed readiness to boost bilateral cooperation with Algerian counterparts, hoping that the ground would be further paved for launching joint venture with the northwestern African country.

 Reza Ameri, hoped that the deal will facilitate Iranian presence in Algeria’s market. “Iranian companies can make use of the opportunities provided by Algeria’s upcoming Fourth Five-Year Development Plan and get their foot in the door and extend their business in Algeria’s engineering market,” the ambassador added.

Bilateral economic cooperation between Algeria and Iran has increased since the resumption of diplomatic relations between the two countries in September 2000. Algerian leaders have publicly backed Iran’s nuclear energy program on numerous occasions.

In recent years, Iran has sought to boost ties and cooperation with Africa including Algeria. As an observing member of the African Union (AU), Iran has had an active presence in previous AU summit meetings.