Tehran, Algiers to boost economic ties

Minister of Industry 5

SHANA – 18 May:   Algerian Minister of Industry and Mining Abdessalem Bouchouareb expressed his country’s interest in boosting ties with Iran in various spheres, IRNA reported.

During his two-day visit at the head of a strong trade delegation, Bouchouareb met with Iranian Minister of Roads and Urban Development Abbas Akhoundi and also the Minister of Oil Bijan Namdar Zanganeh.

In the meeting with Akhoundi on Monday, Bouchouareb emphasized the need for expansion of banking relationships and noted, “Algeria is willing to cooperate with Iran in various fields such as automotive industry and its after-sales service and also pharmaceutical, petrochemical and agricultural industries”.

Akhoundi, for his part, proposed a tripartite company between Iran, Algeria and a European country with high technology in rail construction and equipment for cooperation in Algeria’s five-year plan to construct 6,000 kilometers of railway in the country.

“Algeria has offered the construction of 8,000 residential units to Iranian companies and the Iranian sides announced their readiness in this regard,” according to Akhoundi.

Bouchouareb also had a meeting with Iran’s Oil Minister Bijan Namdar Zanganeh on Monday during which Zanganeh noted that the situation is ripe for Iran and Algeria to enhance their cooperation.

Saying that Iran and Algeria’s economies can be complementary, Zanganeh expressed hope for expanding of economic relations between the two countries.

“Tehran and Algiers passed difficult days caused by oil prices decline and they have always supported each other” oil minister stated.