Abdullah bin Zayed chairs UAE Algeria Joint Committee meeting confers with his Algerian counterpart 1st add

The UAE foreign minister called for exploring new investment opportunities urging Algerian companies to benefit from the modern infrastructure in the UAE to launch operations and businesses into new markets and open up new avenues of co-operation.

HH emphasised that the UAE is one of the largest investors in Algeria with the current agreed investment portfolio of US$ 9 billion including joint projects with Algeria and other strategic partners. 'Here I would like to stress the vital importance of removing barriers facing UAE investments in Algeria'' he said.

As he recognised the need for handling challenges before UAE-Algerian investment HH stressed the importance of setting up a team from the UAE Ministry of Foreign Affairs Algerian Ministry of Industry and Mining and other government and non-government stakeholders to follow up investment projects and advance bilateral ties to serve mutual benefits.

Sheikh Abdullah thanked Algeria for providing facilities to the UAE developmental humanitarian and charitable organisations noting that from 2009 to 2014 foreign aid offered by UAE donors to Algeria stood at AED396 million for projects varying from housing infrastructure food assistance power generation stations and social educational and cultural programmes.

HH said Emirates Airline operated five weekly flights but the figure did not reflect the growth in other sectors and called to ''intensify efforts so as to remove obstacles that could depress growth in bilateral ties.'' Sheikh Abdullah also acknowledged the need for applying a full open sky policy between the two countries and allow free operations based on the fifth freedom without any restrictions.

Making a note of the growing Algerian resident community HH said the number of Algerian citizens living in the UAE stood at more than 10000 in 2014 while visitors reached 65000 the same year.

For his part Ramtane Lamamra Algeria's State Minister of Foreign Affairs and International Co-operation expressed his thanks and appreciation to HH Sheikh Abdullah bin Zayed for the warm welcome and hospitality lauding the outstanding UAE-Algeria ties.

He conveyed to Sheikh Abdullah the regards of Algerian President Abdelaziz Bouteflika President His Highness Sheikh Khalifa bin Zayed Al Nahyan and his special care for the bilateral ties and his hope for a strong strategic ties with the UAE.

He also thanked the UAE for hosting the 13th meeting of the joint committee stressing the importance of opening new avenues of co-operation.

Later the two ministers signed a memorandum of understanding on co-operation in commercial control and consumer protection.

The two sides also inked a MoU on the implementation programme for cultural co-operation 2015-2017 and another MoU on Islamic affairs.

HH Sheikh Abdullah bin Zayed and the Algerian minister had earlier discussed ways of enhancing bilateral ties in areas of investment trade and energy. The two ministers also took stock of a host of latest regional and international issues of common concern.

Dr. Tareq Al Hidan Assistant Foreign Minister for International Organisations Mohammed Saif Al Suwaidi Director-General of Abu Dhabi Fund for Development Sultan Ahmed bin Sulayem Chairman of DP World and Ahmed Ali Al Zaabi UAE Ambassador to Algeria attended the meeting.