Algeria News & Events, Latest News for Algeria

Update: Monday, 14 April 2008    

Algerian-Swiss negotiations on a free zone setting up

According to Switzerland ambassador in Algiers
Wednesday Apr 04 2007.

Switzerland ambassador in Algeria Mr. Michel Gotri unveiled the undertaking of negotiations with Algeria so as to create a Swiss-Algerian free zone exchange, noting that Algeria will remain the only Mediterranean country that has not sealed such an agreement with Switzerland.

This endeavour is according to the Swiss party is meant to upgrade commercial exchanges between the two countries, which are limited to 200 to 300 Swiss Franc and not meet the aspirations of the two people.

During the press conference held in preparation of the third international forum in May on “finance sector”, the Swiss ambassador made clear that Algeria finance sector participation in the Gross Domestic Product is still lukewarm compared with to Switzerland, in this connection he added that Algeria can take advantage from Algerian nationals’ skills.

In another context, the Swiss ambassador pointed out that Algeria who decided to fund its projects relying on its own assets without resorting to indebtedness needs to define funding mechanisms concerning sub-contracting companies as well as State-owned companies so as to realize the sought after goals.

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