Turkey to double trade with Algeria
Turkish Prime Minister paid a two-day official visit to Algeria, during which Mr. Erdogan together with his Algerian counterpart Abdelmalek Sellal saw commissioning of the new steel plant, built by Turkish company Tosyali Iron and Steel Ind. Mr. Erdogan said that Algeria is an example to be followed.
"We ambition to make of Algeria a starting point to forge a partnership with Africa," said Mr. Erdogan.
He added that Turkey "wants to generate fresh impetus to the bilateral relations and eyes doubling the economic exchanges volume to hit $10 billion, instead of currently $5 billion."
Mr. Erdogan also said that Algeria is leading country in hydrocarbons production: "We eye to increase our energy imports from Algeria, reinforce our trade by diversifying and upgrading our investments and our partnership to higher level."
Algeria considers Turkey as a strategic partner and the closest country among the western countries. In addition to historical reasons, a high number of Muslims are living in Algeria and Turkey’s being a member of NATO and its candidacy to EU plays an important role for this relationship.
Approximately 97% of Algeria’s export to Turkey is composed of energy sources including liquefied natural gas (LNG), liquefied petroleum gas (LPG), crude oil and natural gas. While the economic exchanges volume between two countries was approximately $2.5 billion in 2005, today its worth $5 billion, with Turkey being a better importer than exporter. ■