Turkey and Algeria boost economic ties

Turkish Foreign Minister Mevlut Cavusoglu has hailed Algeria’s efforts aiming at settling the Libyan crisis, noting that Algeria and Turkey agreed to boost their economic partnership.

In a joint press conference with his Algerian counterpart Sabri Boukadoum, Cavusoglu told reporters that his country is ready to strengthen economic and trade partnership with Algeria.

He pointed out that the value of trade exchange between the two countries reached 4.5 billion U.S. dollars annually.

Cavusoglu added that Turkey is among the top countries in terms of foreign investment in Algeria.

Official figures show that some 300,000 Algerian tourists annually choose Turkey as a destination.

Boukadoum said that he discussed with his Turkish counterpart the developments of the political situation in Algeria.

Cavusoglu arrived in Algeria on Tuesday for a two-day official visit.

According to a statement by Algerian Foreign Ministry, the visit comes at a time when cooperation and partnership between the two countries are witnessing “a new impetus in various fields, especially in energy, iron, steel and textile.”

The Algerian energy giant Sonatrach and the Turkish construction company of Ronesans recently signed a 1.4-billion-dollar agreement for the establishment of a unit specialized in producing propylene in Turkey.