The Qatari Businessmen Association Meeting with His Excellency President Abdelmadjid Tebboune President of the Peoples Democratic Republic of Algeria
His Excellency President Abdelmadjid Tebboune, President of the People's Democratic Republic of Algeria, met with the Qatari Businessmen Association headed by His Excellency Sheikh Faisal bin Qassim Al Thani, on the sidelines of his visit to Doha to attend the 6th Summit of Gas Exporting Countries Forum. The meeting was an opportunity to strengthen the brotherly Qatari-Algerian relations, especially the economic and commercial ones.
From the Qatari Businessmen Association, the meeting was attended by QBA Members: Mr. Nasser Al Haider, Sheikh Mohamed Bin Faisal, Mr. Ashraf Abu Issa, Mr. Moataz Al Khayat, Mr. Faisal Al Mana, Mr. Mohamed Althaf, Sheikh Jassim Bin Faisal Al Thani.
At the beginning of the meeting, Sheikh Faisal welcomed the President, stressing out the importance of this 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, while from the Algerian side, Mr. Kamal Mulla is heading 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, the President 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% 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 His Excellency their hope that this meeting would constitute a step towards strengthening relations and achieving more economic and commercial cooperation.
It is worth mentioning that the volume of trade exchange between Qatar and Algeria amounted to about 148 million Qatari riyals in 2021.