Kemal Hamenni, President of the Algerian Chamber of Commerce and Industry, visited the Bulgarian Chamber of Commerce and Industry (BCCI) and had a conversation with its President, Mr. Tsvetan Simeonov. The meeting was also attended by Brahim Lenmar, Minister Plenipotentiary at the Algerian Embassy in Sofia.
During the talks, they discussed the development of the trade and economic relations between the two countries and explored opportunities for enhancing cooperation in traditional areas such as machinery, pharmaceuticals, electrical engineering, food processing, manufacturing, infrastructure projects, tourism, and more. According to data from the Ministry of Economy and Industry, bilateral trade for the first six months of 2024 amounted to nearly USD 200 million.
The two Chambers are collaboratively working on establishing an Algerian-Bulgarian Business Council to unite entrepreneurs from both countries, aiming to create new pathways for future economic cooperation. Currently, Algeria has 42 such joint councils with other countries.
The President of the Algerian Chamber also noted that Algeria is the third-largest economy in Africa. The country has significant natural gas reserves and is a producer of high-quality olive oil, dates, cement (40 million tons annually), iron ore, pharmaceuticals, textiles, and more. Algeria's Foreign Investment Law ensures state-level security for foreign investments. More economic information about Algeria can be found at the following link: https://aapi.dz/en/accueil-en/.
Kemal Hamenni’s visit to Sofia was at the invitation of the BCCI and included meetings organized by the Chamber with the Ministry of Economy and Industry, the Bulgarian Investment Agency, and the Sofia Municipal Agency for Privatization and Investments.