ISLAMABAD, Jun 27 (APP): The International Fair in Algeria has witnessed significant participation from Pakistan this year, highlighting new trade and investment opportunities between the two countries.
According to the information shared by Algerian Embassy in Islamabad, a delegation of 30 prominent businessmen under the auspices of Trade Development Authority of Pakistan (TDAP) representing the country at the 55th Edition of the International Fair being held in Algiers from June 24 to 29.
The main Pakistani products showcased at the fair included surgical instruments, textile products, sports articles, cosmetics, motorbike tires and tubes, safety gloves and wear, and electronics.
Algerian Chamber of Commerce and Industry (CACI) organized the Algerian-Pakistani Business Forum. The forum focused on exploring trade and investment opportunities to enhance economic cooperation between the two countries.
Representatives from CACI, the Algerian Investment Promotion Agency (AAPI), and the National Agency for the Promotion of Foreign Trade (ALGEX) dilated on their country’s business and investment system.
They highlighted the benefits and guarantees provided by Algeria’s new investment law of 2022 and gave an overview of current bilateral trade exchanges.
CACI President Kamal Hamni emphasized Algeria’s readiness to facilitate Pakistani investors’ entry into African markets through the African Free Trade Zone and the Arab Free Trade Zone.
Pakistan’s Ambassador to Algeria Khalid Hussain Khan Godaru urged the Pakistani economic operators to take advantage of the investment opportunities in Algeria.
He said there was a goal of increasing trade volume between the two countries to $1 billion within the next decade, and that objective would be pursued by intensifying meetings and working visits between delegations to better understand each country’s needs.
The 55th Edition of the International Fair, inaugurated by Algerian President Abdelmadjid Tebboune, is a major economic event in Africa as it offer a platform for Algerian and foreign companies to form new partnerships and expand their networks.
This year’s fair featured 800 exhibitors from 32 countries across the Arab, European, African, and Asian regions. Turkiye was the guest of honour.
In 2022, Algeria and Pakistan signed a memorandum of understanding to establish the Joint Business Council (JBC) between CACI and the Federation of Pakistan Chambers of Commerce and Industries (FPCCI). This council aims to further strengthen economic ties and promote mutual growth.
The Algerian-Pakistani Business Forum and the International Fair of Algiers signal a promising future for economic collaboration, paving the way for increased trade and investment between the two nations.
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