Algeria News & Events, Latest News for Algeria

Update: Tuesday, 6 January 2009    

Spain prefers not to recourse to international arbitration

Solbes: gas prices problem is "complex"
Friday May 11 2007.

Spain Finance and Economy minister M. Pedro Solbes revealed that Algeria and Spain are striving to find solutions to gas prices as soon as possible, and underscored his country’s desire to not having recourse to the international arbitration in solving the conflict.

During the press conference held yesterday, Spain finance and economy minister said that negotiations between the two countries on Algerian gas prices rise are “complex”, especially in the framework of partnership relations bounding the two countries. In this framework he stated “Algeria needs Spain and Spain needs Algeria, so we should keep cooperating as we are convinced about the mutual need”, on which Finance minister Mr. Mourad Medelci commented by saying “Algeria has its position in the European market”.

Pedro Solbes further expressed his country’s will to develop partnership relations with Algeria and extend them to other sectors such as transport, hydraulic resources especially in terms of water desalination. On another side Mr. Medelci underscored that the partnership is to include the financial sector with its fiscal and customs fields, as well as financial institutions and insurance companies, in addition to tourism and aquaculture fields.

The Algerian finance minister further mentioned that other series of business meetings are to be held with the Spanish party in order to examine ways and means of partnership and cooperation between the two parties in many fields according to a given agenda.

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