President Abdelmadjid Tebboune and his Turkish counterpart, Recep Tayyip Erdogan, agreed to deepen economic ties amid accelerating growth. A new phase looms, focused on expanding and diversifying partnership areas, following the inaugural session of the Algeria-Turkey High-Level Strategic Cooperation Council held Thursday in Ankara.
Fresh milestones for robust economic collaboration were set in Ankara during President Tebboune’s official visit to Turkey, at the invitation of his Turkish host. In a joint press statement with the Turkish president, Tebboune hailed the state of Algeria-Turkey cooperation relations, which are experiencing “rising momentum.” He noted a thorough review of bilateral ties, adding that they “are gaining strong traction that we welcome, while applauding the progress made to reach this point.” He explained his trip aimed to amplify this drive through “diversifying economic cooperation and broadening partnerships into renewables, agriculture, industry, and mining.” He also voiced approval of the “substantive and productive” talks, capped by numerous signed agreements, and praised “the revival of the business forum and its key role in boosting trade and investment flows between economic players from both nations.”
——————Talks Kick Off for Preferential Trade Deal
Trade relations are set to intensify further, as both nations target a $10 billion trade volume set in 2023. Toward that end, the head of state welcomed the start of negotiations on a preferential trade agreement covering a specific list of goods, predicting it “will help elevate trade and investment volumes to $10 billion by 2030.”
For his part, the Turkish president reaffirmed his country’s commitment to advancing bilateral cooperation across all sectors, aligned with shared interests. He stated that “efforts are ramping up to hit the $10 billion trade target.” Erdogan highlighted Turkey’s drive to grow ties with Algeria, calling it “one of Turkey’s top commercial partners in Africa across key strategic fields, led by energy, mining, transport, and agriculture.” He pointed out over 1,600 Turkish firms operating in Algeria, undertaking major projects and investments in industry, mining, and agriculture.
In energy, the Turkish president recalled that his nation “has long maintained reliable, steady, and enduring energy cooperation with Algeria.” “At this stage, we are advancing daily toward a long-term partnership on energy supply security, especially natural gas,” he said.
Recep Tayyip Erdogan also touched on bilateral defense industry collaboration, which he said “will enhance security for both our countries and regions,” before stressing the “special priority” on mutual cultural centers to “strengthen fraternal bonds.” “We will keep building our friendship and cooperation with Algeria across all areas on a win-win basis,” the Turkish president added.