France’s PM visits Algeria to discuss economic cooperation

A number of economic issues dominate the visit scheduled to be held by France’s Prime Minister Bernard Kaznov to Algeria on Wednesday, as he will head a delegation to meet with a number of Algerian officials, including Prime Minister Abdel Malek Salal. According to sources, the French official will discuss the issue of the opening of French car manufacturer “Peugeot” during the talks he will hold with the Algerian officials.

The project raised a state of controversy during the last months, as the two parties have clear differences over the profit rate. The Algerian government insisted on seizing 15 percent of the profits with the need to reduce car prices compared to world prices. However, the French government refuses these conditions. The visit also is scheduled to witness the signature of a number of agreements and protocols on the economic side.

Many experts believe that the relations between France and Algeria witnessed notable progress during the era of France’s President Francois Hollande who worked to provide support for the Algerian economy during the recent period. The officials of the two countries were keen to exchange the visits to discuss many issues on both diplomatic and economic sides.

According to sources, the French investments in Algeria increased by $ two billion during the era of President Hollande. The Algerian government managed to polarize a number of French investors during the recent period, as the French institutions working in Algeria witnessed notable increase during the recent period.

Algerian expert Farahat Ayet Ali blamed the policies adopted by Algerian government for the lack of French investments, saying that the country has the opportunity to increase the investments coming from France during the coming period. He added, in a statement to “Arabs Today”, that the Algerian authorities should take serious steps to increase the foreign investments to overcome the current critical challenges facing the country since the decline of oil prices.