British Trade Mission Revisiting Algeria   Leave a comment

Following a successful Algeria Trade mission in January 2009 the MEA will be revisiting Algeria again (22 – 26 January 2011) to further explore the recent explosion of business opportunities available to UK businesses.

Algeria is the second largest country in Africa, the third most populous in the Arab world, Africa’s fourth largest producer of oil and the world’s fifth largest producer of gas. Sound policies and limited integration in the international financial system have contained the impact of the last two years’ global economic downturn on the Algerian economy, allowing it to forecast a 4.6% GDP growth rate for 2010.

In spite of slower liberalization in external trade in 2008/2009     2008/2009    and a protectionist cap of 49% on foreign investors’ share in major ventures imposed in January 2009, the World Bank identified Algeria in its ‘Doing Business in the Arab World 2010 Report’ as among the region’s reformers in 2008-09.
It noted, for example, the reduction in corporate tax from 25% to 19% for some sectors – and last year Algeria changed its working week to start on Sunday, instead of Saturday, to increase the overlap with the Western week. Algeria is a good business environment because of its low labour costs and goodwill towards UK businesses.

Algerians hold British products in high regard and are keen to diversify away from France, which currently supplies over 30% of Algeria’s imports. Indeed, UK exports to Algeria have more than doubled in the last five years; in 2009 they increased by 22% on the year 2008, to £327m. The UK is also one of the largest EU sources of FDI in Algeria, investing $115m in 2008.

There are many opportunities for UK business in oil & gas, and over the next ten years US $1bn is being invested in pipeline construction. UK businesses are also involved in nickel mining, lubricants, agricultural machinery, education & training, pharmaceuticals, aerospace, timber, textiles, power supply and tourism.

The MEA trade mission will enable participating companies to learn more about these and other opportunities, and how to tackle the Algerian market.

Global Arab Network, comprehensive news and information service about the Arab world in English and Arabic, is participating in promoting the mission.

Those interested in joining the mission and wishing to register, please click Here.

The deadline for registrations is 10th December 2010. For further information, please contact The Middle East Association, click HERE

Source : globalarabnetwork.com

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Posted January 6, 2011 by newworldconsulting in Uncategorized

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