Algeria-Egypt: Business resumes at a high level, between two gas giants

After 8 years of freezing, business resumes at the highest level between Algeria and Egypt. The Algerian and Egyptian Prime Ministers, Aïmene Benabderrahmane and Moustafa Madbouli, chaired the 8th session of the Grand Joint Commission yesterday, Wednesday 29 June in Algiers. Key topics were discussed, including optimal utilization of gas to raise the level of development in the two countries …

When Algerian President Abdelmajid Tebboune visited Egypt in January last year, it was mainly to clear the ground for the next summit of the Arab League scheduled for Algiers. Tebboune and his Egyptian counterpart, Abdel Fattah al-Sisi, have decided to step up a gear in bilateral relations. the “very sensitive and delicate circumstances that our Arab region and several regions of the world are experiencing and whose consequences for the world economy are beginning to be felt“demands”today, more than ever (…) cooperation and partnership to help address these challenges and economic constraints“, said the Algerian Prime Minister …

It should be noted that the two countries already have very solid relations around energy, trade and investment; Egypt is even Algeria’s second Arab trading partner and third for investment. 25 Egyptian projects flourish in Algeria in petrochemicals, telecommunications, electric cables, public works, services and agriculture. In addition, the nitrogen fertilizer projects (in Oran), electric cables (Ain Defla) and the pharmaceutical industry (Algiers) “successful and promising“, And some are already in the export phase, Benabderrahmane indicated.

If a gas artery is added, the collaboration will go into another dimension. The two countries have the equipment to condense and export the gas that the West, especially the Europeans, run behind. The Algerian Prime Minister called on “consultation and coordination between the two countries, which guarantees an optimization of the use of this energy and the defense of their interests in the light of developments that have made energy one of the major issues in relations between the countries;“.

Despite the results achieved, economic cooperation relations between Algeria and Egypt are still far from the level of the large capacity available to the two countries and do not live up to their hopes of raising cooperation to the level of strategic partnership.”Hammered Benabderrahmane, quoted by Algeria’s press service (APS).

He called for “intensify efforts to remove obstacles, establish practical frameworks and explore new areas of cooperation according to a plan with clearly defined objectives and a precise timetable for implementation;“. And the new investment code highlighted by the Algerian Prime Minister can support this dynamic …

Egypt and Algeria have many points of convergence, beginning with active diplomacy, which rejects nothing and which has the means to impose on its Western partners its choices, even the fact of trade with Russia. Cairo continues to do business with Moscow, even if it means breaking the lock of international sanctions. As for Algiers, it received the Russian Foreign Ministry last month, which very few countries dare to do.

In addition, the Egyptian president has embarked on titanic works to strengthen his country’s economy; Same for the Algerian president thanks to the comfortable income from natural gas and oil. This means that they have a lot in common, but above all it is an excellent working basis for improving the standard of living of the citizens of both countries in a global situation characterized by inflation and economic gloom.

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