Türkİye, Africa

Türkiye among biggest investors in Algeria: Tebboune

Over 1,400 Turkish companies work in Algeria

Abdel-Razzaq bin Abdallah   | 01.08.2022
Türkiye among biggest investors in Algeria: Tebboune

ALGIERS, Algeria 

Türkiye is among the biggest investors in Algeria, Algerian President Abdelmajid Tebboune said.

“Algeria’s strive for developing ties with Türkiye is normal given the long history between the two countries,” Tebboune said in an interview with the state TV aired late Sunday.

He noted that Turkish investments in Algeria are estimated at around $4 billion.

"It's normal to work to develop and strengthen our relations for the interest of the two countries [...] we don't have any problems with it [Türkiye]," Tebboune stressed.

Last month, Turkish Vice-President Fuat Oktay said his country's investments in Algeria reached $5 billion.

He added during his visit to Algeria that there were over 1,400 Turkish companies working in Algeria, reiterating Türkiye's desire to sign a free trade agreement or a preferential trading agreement with the North African country.

Writing by Ahmed Asmar

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