Ukraine, Algeria plan to expand cooperation in metallurgical sector

According to the press service of the Embassy of Ukraine in Algeria, this was discussed during a meeting between Ambassador Maksym Subkh and Chief Executive Officer of Algeria's IMETAL Group Tarik Bouslama.

"During the meeting, the attention of the Algerian side was, in particular, drawn to the presence of significant potential for the development of bilateral cooperation between Ukraine and Algeria in the metallurgical sector. It was also noted that the supply of Ukrainian metallurgical products is one of the most important components of domestic exports to Algeria, which is traditionally one of the five largest trade and economic partners of Ukraine in Africa," the statement reads.

Tarik Bouslama, in turn, stressed the significant opportunities for foreign, including Ukrainian, metallurgical and machine-building companies in the context of their possible participation in joint investment and industrial projects in Algeria. He also invited Ukrainian companies to join the modernization of Algerian metallurgical infrastructure.

According to the embassy, in 2019, Ukraine exported USD 273 million worth of metallurgical products to Algeria, which accounted for almost 45% of the total Ukrainian-Algerian trade for the year. In 2020, due to the spread of the COVID-19 pandemic, Ukraine’s exports of ferrous metals to Algeria reached about USD 100 million, which accounted for more than 25% of the total trade turnover.

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