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Hakan Fidan: Trade Volume Between Turkey and Algeria Expected to Reach $10 Billion
Strengthening Bilateral Ties Through Economic Cooperation
Turkish Foreign Minister Hakan Fidan has expressed optimism about the future of economic relations between Turkey and Algeria, projecting that the trade volume between the two nations could soon reach $10 billion. During an official visit to Algiers, Fidan emphasized the strategic importance of Algeria as a key partner in North Africa and highlighted the mutual commitment to deepening cooperation across various sectors.
Fidan noted that the current trade volume, which stands at approximately $5.3 billion, has shown consistent growth in recent years. He attributed this upward trend to the strong political will on both sides and the increasing number of joint ventures and investments. The Turkish minister also pointed out that the two countries are working on removing trade barriers and enhancing logistical connectivity to facilitate smoother commercial exchanges.
Key Areas of Economic Collaboration
Both Turkey and Algeria are focusing on expanding their partnership in several strategic sectors. Fidan outlined the following areas as priorities for future cooperation:
- Energy: Turkey is keen on increasing its investments in Algeria’s energy sector, particularly in natural gas and renewable energy projects.
- Construction and Infrastructure: Turkish companies have a strong presence in Algeria’s construction industry, and new infrastructure projects are expected to further boost collaboration.
- Defense and Technology: Discussions are underway to enhance cooperation in defense industries and technology transfer.
- Agriculture and Food Security: Both countries are exploring opportunities to collaborate in agricultural production and food processing.
Fidan also highlighted the role of the Turkey-Algeria High-Level Cooperation Council, which serves as a platform to coordinate joint initiatives and monitor progress in bilateral relations. He stressed that the upcoming meetings of the council will focus on implementing concrete projects that align with the $10 billion trade target.
Shared Vision for Regional Stability and Development
Beyond economic ties, Fidan and his Algerian counterparts discussed regional and international issues of mutual concern. Both nations reaffirmed their commitment to promoting peace and stability in North Africa and the broader Mediterranean region. They also agreed on the importance of supporting diplomatic solutions to ongoing conflicts and enhancing cooperation in counter-terrorism efforts.
Fidan praised Algeria’s role in regional diplomacy and expressed Turkey’s readiness to work closely with Algerian authorities on initiatives that contribute to sustainable development and regional integration. The two sides also emphasized the importance of cultural and educational exchanges to strengthen people-to-people ties and foster mutual understanding.
Conclusion: A Promising Future for Turkish-Algerian Relations
The visit of Turkish Foreign Minister Hakan Fidan to Algeria marks a significant step forward in the evolving partnership between the two countries. With a shared vision for economic growth, regional stability, and strategic cooperation, Turkey and Algeria are poised to elevate their bilateral trade to $10 billion in the near future. As both nations continue to invest in key sectors and remove barriers to collaboration, their relationship is expected to serve as a model for regional cooperation and mutual prosperity.
