UAE and Algeria sign raft of agreements
algeria — The UAE and Algeria have signed a number of agreements to boost cooperation in various economic fields.
Shaikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; and Abdul Malik Salal, Prime Minister of Algeria, on Tuesday witnessed the signing of a number of memoranda of understanding (MoUs) between the two countries.
The two parties signed MoUs between the Central Bank of the UAE and the Algerian Central Bank. Rashid Mubarak Al Mansouri, Governor of the Central Bank of the UAE, and Muhammad Loukal, Governor of the Bank of Algeria, signed an agreement to support and develop the financial and banking sector in the two countries.
Another MoU was signed on cooperation between the Abu Dhabi Chamber of Commerce and Industry and the Algerian Chamber of Industry and Commerce. Mohammed Thani Al Rumaithi, president of the Federation of Chambers of Commerce and Industry; and Mohammed Eid bin Omar, chairman of the Algerian Chamber, signed the agreement.
The two countries signed another MoU to establish a joint company for the manufacture and maintenance of Mercedes Benz vehicles. It was signed by Mohammed Al Muhairi, CEO of Aabar.
The two sides also signed an MoU between Al Ain Farms Corporation and Agro Dev Algerian Company. Mohammed Al Suwaidi, director of the Abu Dhabi Fund for Development, and Jameela Akhanash, Agro Dev Company director, signed the agreement.
Cepsa and Sonatrach also signed an MoU. Pedro Miro, CEO of Cepsa, and Amine Mazouzi, CEO of Algeria’s Sonatrach, signed the agreement.