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Algiers — Minister of Industry and Mines Abdeslam Bouchouareb called on Tuesday in Algiers Swiss operators to transform their business success in Algeria into investments.

"The great Swiss groups are good for business in Algeria. We are delighted to see them succeed. But we want this commercial success to be firmly committed to the path of investment," said Bouchouareb at an Algerian-Swiss economic meeting which brought together businessmen of the two countries in presence of the Swiss Secretary of State for Economic Affairs, Gabrielle Ineichen-Marie-Fleisch.

According to him, Algeria and Switzerland have always had "excellent" political relations and economic relationships must also be "fruitful."

"I expect on ground action from operators and their business sense to seize the opportunities offered to them," stressed the minister who mentioned the sectors of pharmaceutical production, transport, food-processing and services.

In this sense, Bouchouareb argued that beyond the domestic market, operators of the two countries can build together "excellent gateways" to the markets of Africa and the entire region.

"You have excellence in many areas interesting us and we, in return, have great opportunities," he said.

The Swiss Secretary of State for Economic Affairs said, meanwhile, that Algeria had the potential to become a platform tour to Africa, adding that the economic development needs are immense.

However, the level of trade and investment remains very low between the two countries since the Swiss companies represent only 0.5% of total foreign investment in Algeria.

Ineichen-Fleisch explained this situation by ignorance of the potential and comparative advantages of Algeria.

"Swiss entrepreneurs are not sufficiently informed of developments that encourage investment in Algeria," she acknowledged.

Chairman of the Business Leaders Forum (FCE) Ali Haddad stressed the need to reverse the current trend of trade between Algeria and Switzerland and the nature of their business partnerships.

Tag(s) : #Economy

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