Zimbabwe - Algeria business ties

[Al-khiyal]

Financial Gazette (Harare), July 6, 2006 - - A 12-MEMBER trade and economic delegation from Algeria headed by Ould Hamoudi, the director-general in the Ministry of Investment and Promotion, visited the country last week and held discussions with their Zimbabwean counterparts in search of investment opportunities.

The visit comes almost a year after Harare sent a trade delegation to Algiers to entice the North Africans to invest here.

Algerian ambassador to Zimbabwe, Ali Mokrani, told The Financial Gazette that the trade delegation, which is exploring opportunities to set up joint ventures with local companies, had held discussions with some agricultural equipment manufacturers, particularly tractor assemblers and irrigation equipment manufacturers, tobacco processing companies and some pharmaceutical companies.

"The trade delegation is looking at establishing economic joint ventures and we (Algeria) hope to import Zimbabwean items such as tobacco, coffee and tea," said Mokrani.

Algeria, which early in the year donated 2 000 tonnes of rice to Zimbabwe, has significant and varied natural resources. Its gas reserves are among the largest in the world. Other significant resources include oil, phosphate, iron, gold, uranium and tungsten.

Zimbabwe has lost its glitter as an investment destination since it plunge into an economic and political crisis seven years ago. Corruption has reached endemic levels while heavy regulation, price controls, expropriation of land and businesses, an inflationary monetary policy and government-sanctioned violence have discouraged foreign investment and hindered economic growth.

Apart from Algeria, the government has vigorously courted Chinese businessmen to invest in the country.

The southern African country is in the grip of severe food shortages which citizens blame on government's poor planning and a shortage of critical inputs such as seed and fertilisers.

Two food monitoring agencies have forecasted another hungry year for the country, which is traumatised by 1 193.5 percent inflation, foreign currency shortages and an energy crisis.

>>>Source<<<

[Al-khiyal]

November 17, 2006 -- The Algerian government is committed to establish strong and diverse ties with Zimbabwe to strengthen bilateral relations between the two countries, a diplomat said on Thursday.

The business community in Zimbabwe should utilize the full potential of business opportunities offered by the excellent political, diplomatic and historic relations that exist between the two countries, urged Algerian ambassador to Zimbabwe Ali Mokrani when speaking at a celebration in Harare to mark the 52 anniversary of the Algerian revolution which ended 132 years of French colonization.

In the spirit of cooperation between Zimbabwe and Algeria, the two countries drafted agreements in all economic areas to facilitate increased business activity and trade between the two countries.

Algeria also extended solidarity with Zimbabwe through the provision of scholarships, food aid and medical donations.

At continental level, ambassador Mokrani said his country believed that Africans should pool their resources together to tackle head on the challenges resulting from globalization and enhance trade rather than aid.

Speaking on behalf of the Zimbabwean government at the occasion, Deputy Foreign Affairs Minister Obert Matshalaga said it was imperative to conclude negotiations on trade and convene the joint commission.

He spoke of the need to broaden and deepen bilateral relations in the economic, technical and cultural areas and at continental and global levels through the African union, the non-aligned movement and the UN.

Algeria to extend strong ties with Zimbabwe

[Al-khiyal]

Algeria, Zimbabwe sign co-operation accords

August 21, 2009 -- Algeria and Zimbabwe signed several co-operation agreements Thursday (August 20th) in Harare, El Moudjahid reported. The third session of the Algerian-Zambian Joint Cooperation Commission ended with accords covering diplomatic relations, technology, sports and industry. National Oil Company of Zimbabwe officials will also visit Algeria to conclude a petroleum and natural gas deal.

[Al-khiyal]

Zimbabwe, Algeria sign co-operation deal

September 16, 2009 -- The third Algeria-Zimbabwe Joint Commission of Cooperation wrapped up in Harare, Zimbabwe, with the finalization of several cooperation agreements in various fields, which covered areas such as energy, science and technology. In the field of Energy and Mines, the two countries had discussions with a view to promoting cooperation in production of electricity and the supply of oil and petroleum products.

Under the agreement, the two countries private sectors will collaborate through the chambers of commerce. Meanwhile under the energy Memorandum of Understanding, National Oil Company of Zimbabwe, officials will soon visit Algeria to conclude a deal for the supply of petroleum and natural gas products. The business delegation will also explore possible areas of cooperation in the energy sector.

Zimbabwe and Algeria also agreed to facilitate arrangements for companies from the two countries to explore possible areas of cooperation in the fuel and energy sectors and to enter into agreements to supply various products on a mutually beneficial commercial basis. The agreement aims also to prod Algerian and Zimbabwean companies to team up and exploit opportunities through joint ventures.

Zimbabwe and Algeria’s bilateral relations continue to grow from strength to strength and the two sides further agreed to continue their negotiations concerning other draft agreements, particularly in the areas of trade, small and medium enterprises, and mutual protection of investments. These agreements at the same time focus on diplomatic consultations between countries, foreign ministries, cooperation in science and technology, sports, cooperation between the Algerian Chamber of Commerce and Industry and the Zimbabwe National Chamber of Commerce.