Algeria’s Gas Deal With Italy In Exchange For Investments In 7 Sectors
An Algerian-Italian bilateral economic forum and business meeting will be held here on Monday and tomorrow Tuesday, at the Center for International Conferences “CIC”, Abdelatif Rahal, in Algiers on the sidelines of the fourth Algerian-Italian government summit, and the wake of the gas supply deals recently signed between the two parties.
The forum will be held to strengthen economic and trade relations between the two countries and create lasting partnerships that will bring together Algerian business people and their Italian counterparts, by activating discussion forums, in the presence of officials and representatives of national institutions from the two countries, and holding meetings and round tables chaired by company managers from the Algerian and Italian sides.
The partnership negotiations will focus on 7 sectors: agriculture, fishing, fish and aquaculture, energy transition and renewable energy, pharmaceutical and medical industries, construction and public works, and information and communication technology. These consultations and round tables come in the wake of the gas supply deals recently signed between Algeria and Rome.
According to the work program, and after the official speech of Prime Minister Aimene Benabderahmane and his Italian counterpart, Prime Minister Mario Draghi, the Minister of Trade, Kamel Rezig, and Italian Foreign Affairs and International Cooperation Minister, Luigi Di Maio.
Discussions will focus on the opportunities for economic partnership between the two countries, with the intervention of the General Manager of the Algerian National Agency for Developing Investment “ANDI”, which will review the advantages of investing in Algeria, the President of the Italian ITA – ICE Agency for Foreign Trade, Carlo Ferro, and the Director of the Algerian National Agency for the Promotion of Foreign Trade “ALGEX” and the vice-president of the General Confederation of Italian Industry, Barbara Beltrame.
During the forum, financial support tools for companies will also be discussed, in the presence of the President of the Professional Association of Banks and Financial Institutions, Lazhar Latrache, the General Manager of the Italian State Agency Cassa Depositi E Prestiti”, representatives of the Algerian Export Guarantee Fund, the General Director of the Italian Export Insurance Agency, and the President of the Italian Association for Companies Abroad.
The Algerian side will attend the discussions represented by the Special Envoy in charge of Economic Files, Abdelkrim Harchaoui, and on the Italian side, Lorenzo Angelino, General Director for Strengthening the State System in Rome.
During the second day of the Business Council, bilateral meetings and four round tables are expected to be held. The first will focus on the food industries, fisheries, aquaculture and agricultural machinery, the second will focus on energy transformation and renewable energies, the third round table will address the pharmaceutical equipment industry, and the fourth table will focus on the infrastructure for public works, buildings, water resources, information and communication technologies, to come up at the end of the forum with recommendations on close deals.
In this context, the Italian strategic advisor, Daniel Rovanetti, comments on the Algerian-Italian economic partnership in a statement to Echorouk, saying: “The relations have been good for decades, and have become more developed in recent months, especially after the gas agreements that allow Italy to free itself from the pincers of the energy crisis afflicting the European continent”.
“Algeria is an important player in the Mediterranean region, and a decisive player in the security game, whether it is related to managing immigration files or combating terrorism. These are important aspects in which there can be in-depth coordination between the Algerian and Italian parties. We are expecting to reach positive results after the fourth Algerian-Italian summit, and the Business Council between the two countries”, Rovanetti added.
Rovanetti concluded his speech by saying: “Algeria’s decision to raise the volume of its gas supplies to Italy by an additional 4 billion cubic meters starting next week, bringing the quantity to 6 billion cubic meters by the end of the year, and supplying it with 13.9 billion cubic meters in 2021, exceeding the previously announced amount by 113%, to be matched by the Italian side by investment in Algeria in the sectors of mechanics, construction and communication and telecommunications technology.
