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Update: Saturday, 15 May 2010    

Emaar 20 billion dollars projects to be accredited

Algeria-UAE high bilateral commission:
Saturday Jun 16 2007.

Emirate economy minister Cheikha Loubna al Qassimi revealed that the Emirate groups Emaar and Nacer projects are to be materialized on the field, a source from the Algerian delegation taking part in the Algeria-UAE high bilateral commission in Abu Dhabi, noting that Imar projects are estimated at 20 billion dollars.

Prime Minister Mr. Abdelaziz Belkhadem reassured Emirate investors at the aftermath of his premiership renewal as regards projects waiting license since a year to get “good news”, as source told El Khabar.

A member of the Algerian delegation mentioned that the Emirate economy minister Loubna al Qassimi talked about Emaar development projects and the Algerian Emirate group.

According to the same source, the commission focused on the importance of intensifying commercial exchanges estimated at 516 million dollars of which 95% are the outcome of export, whereas Emirate investments in Algeria reached more than 40 billion dirham in 2006.

It is worth noting that the two parties agreed on expertise exchange between UAE and Algeria stock exchange on terms of tax evasion, cooperation between the two countries chambers of commerce and exports development centres, trade fairs increase, tourism, water desalination, in addition to a political agreement on cooperation between the two countries diplomatic institutes.

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