China invests 36 billion dollars in Algeria
Algiers and Beijing signed 19 cooperation agreements last week during Algerian President Abdelmadjid Tebboune’s visit to China where he met with President Xi Jinping, Asharq Al-Awsat reported. 
China invests 36 billion dollars in Algeria
The Economics of Geography

China invests 36 billion dollars in Algeria

Photo: AFP/Anadolu Agency/Algerian Presidency
Eurasia 26/07/2023 07:00

Algiers and Beijing signed 19 cooperation agreements last week during Algerian President Abdelmadjid Tebboune’s visit to China where he met with President Xi Jinping, Asharq Al-Awsat reported. 

Tebboune was accompanied by a large delegation of ministers and businessmen, signaling a new dynamism in Algeria's relations with its historic partners, including Russia, the newspaper wrote. The Algeria Press Service (APS) said the agreements include cooperation across sectors like railway transportation, technology transfer, and agricultural collaboration. The two countries agreed on forming an expert team to encourage economic and investment collaboration.

Algerian government sources confirmed to Asharq Al-Awsat that the ministerial talks focused on developing renewable energies and enhancing capacities by supporting the Algerian project on applied research with renewable energies, it added.
Photo: AFP/Ng Han Guan
China will invest 36 billion USD in Algeria across sectors including manufacturing, new technology, knowledge economy, transport, and agriculture, Reuters cited Ennahar Online. "The projects and agreements concluded with the Chinese side are huge and mutually beneficial to both countries," said Tebboune, speaking during a meeting in Shenzhen province with representatives of the Algerian community in China.

The Algerian President said that Algeria seeks to bring economic relations with Beijing to the level of "good historical political relations" and that his visit opened "all horizons of investment" between the two countries.

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