Turkish Trade Minister Omar Bulat announced that Turkey and Algeria will soon begin negotiations to establish a preferential trade agreement. In a statement during the opening of the 55th International Algiers Fair, which featured around 700 local and foreign exhibitors from 20 countries, he mentioned that Turkey and Algeria are taking firm steps towards reaching a target of $10 billion in bilateral trade volume, according to Anadolu Agency.
He noted that the trade volume with Algeria reached $6.3 billion last year and expressed hope for an upward trend in the coming months of the current year. Bulat added that "Algeria is not only Turkey's gateway to Africa but also its largest investment partner on the continent."
He confirmed that "the volume of Turkish investments in Algeria has exceeded $6 billion, and apart from oil and natural gas, Turkey contributes the largest investments and provides the most job opportunities in Algeria."
The minister expressed his country's readiness to provide all forms of support to Algerian investors in Turkey, emphasizing their ongoing efforts to increase cooperation and investments in renewable energy, water infrastructure, mining, solar energy, and hydrocarbons.
Bulat mentioned that under the agreement signed between the two countries in Ankara on May 7, flight restrictions have been lifted, increasing the number of weekly flights from 35 to 80.
