South Africa and Algeria have agreed on the necessity of accelerating the establishment of the Joint Trade and Investment Committee (JTIC). The JTIC will focus engagement across both the public and private sectors of each country in order to pursue available economic opportunities between the two countries.
The agreement emanated from the bilateral meeting that was held in Algiers by the Deputy Minister of Trade and Industry, Elizabeth Thabethe and the Algerian Minister of Trade, Mr M. Mustapha Benbada.
Deputy Minister Thabethe said that the JTIC would serve as a vehicle to improve trade and investment relations between South Africa and Algeria, in that it would allow senior officials from both countries to discuss and agree on a joint and mutually beneficial work programme.
"Trade and Industry has proposed to Algeria four sectors, as key focus areas to commence the implementation of the JTIC i.e. Agriculture, Infrastructure, Industry and Investment. Each of these sectors are key job drivers and I believe if both countries concentrate on these sectors a lot can be accomplished and mutually beneficial business linkages can be created," added Thabethe.
She also encouraged the Algerian business sector to invest in South Africa, especially in terms of infrastructural projects and opportunities announced by President Jacob Zuma, amongst others, the New Growth Path, the Presidential Infrastructure Programme and the Industrial Policy Action Plan.
Minister Mustapha Benbada said that he appreciated Thabethe's initiative in undertaking the Outward Selling and Investment mission to Algeria. He welcomed the discussion and expressed eagerness on behalf of the Algerian government to work towards strengthening trade and investment relations with South Africa
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
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