Algerian-Chinese negotiations for vehicle assembly project in Algeria

 

ALGIERS-Minister of Industry and Mines Bouchouareb Abdessalem said Saturday in Algiers that negotiations were underway for an Algerian-Chinese vehicle and trucks assembly project and called on Chinese brands to develop in subcontracting activities and spare parts industry in Algeria.

 "There are Chinese companies seeking to engage in the assembly of vehicles and trucks in Algeria," said the minister at a press conference Chairman of the Council for Promoting South-South Cooperation Lyu Xinhua, on the sidelines of the Algerian-Chinese economic forum.

"A well-known Chinese partner is negotiating with Algerian companies for an Algerian-Chinese vehicle assembly project which will be launched soon," added Bouchouareb who invited the Chinese businesspersons to invest in the development of subcontracting activities and
industry of spare parts.

The Algerian authorities are ready to support Chinese investors for the implementation of their projects, said the minister, insisting "economic relations and investment opportunities that are emerging gradually between the two countries should not be limited to a vehicle assembly plant," he has said.

He reminded, in this regard, "very important" projects and investment opportunities in several areas for which China's experience is indispensable for Algeria.

Bouchouareb called the Chinese partner to participate in the exploitation of Gara Djebilet iron deposit (Tindouf), which "requires experience, advanced technology and considerable financial resources, elements provided by Chinese companies."

Commenting on the establishment of a strategic partnership between the two countries, the minister stressed that the "new and sincere vision of bilateral partnership will contribute to the implementation of these projects on the ground."

Gara Djebilet (2 billion tons reserve) is the "pillar of our future economy," says Bouchouareb who also referred to the phosphate reserve that could make Algeria and China pioneers in fertilizer production in the Mediterranean basin.

He also called Chinese operators to participate in the project of the new center of the commercial port (between the cities of Cherchell and Tenes) which will ensure the two countries an opening to the first African markets and those of the Mediterranean, southern Europe and the Arab countries.

The project, amounted at DZD 200 billion, will be launched in 2016 and will be implemented in phases, by national public and private companies in partnership with foreign companies.

Heading a large delegation of Chinese businessmen, Xinhua Lyu said that China was ready to finance production projects that Algeria intends to launch recalling that his country had exchange reserves estimated at about 4 trillion dollars to enable it to fund many projects in developing countries and primarily Algeria.

According to the Chinese official, his country encourages Chinese enterprises to move to external markets especially in Africa.

The Chinese ambassador to Algiers Yuanggu Yang said that in addition to the commitment of both countries to develop a macro-economic partnership, China is ready to expand this partnership to other unconventional sectors such as industrial areas and cooperation in the financial and monetary field.

"China always believes in the future of Algeria and partnership with this country," said the Chinese diplomat.

For his part, president of the Business Leaders Forum (FCE), Ali Haddad invited the Chinese delegation to invest in value-added technology instead of confining partnership in infrastructure projects only.

He stressed the need to move from trade relations towards relations based on productive investment in Algeria.


Sunday, 18 October 2015