Bulgaria Vows to Make Comeback on Algeria's Market

Bulgaria's PM Borisov (left) meeting with an Algerian government delegation led by Water Resources Minister Sellal. Photo by Council of Minsters

The governments of Bulgaria and Algeria will work together to bring back Bulgarian goods and construction firms to the Algerian market, according to Bulgaria's Economy Minister Traicho Traikov.

Traikov spoke at the opening of a business forum as part of the 19th session of the Joint Bulgarian-Algerian Commission for Economic, Scientific, and Technical Cooperation, which he opened together with Abdelmalek Sellal, Algeria's Minister of Water Resources; earlier on Tuesday, Sellas had tete-a-tete meetings with Traikov and Bulgarian Prime Minister Boyko Borisov.

The major topics of the Bulgarian-Algerian business forum focused on the unexplored opportunities for economic exchange in food industry, pharmaceuticals, medical equipment, clothing, machine-building, among others.

A special focus was placed on Algeria's impressive development program, which, according to Traikov, could take advantage of the prices and skills of the Bulgarian construction companies.

Algeria's Program for Reconstruction and Development provides for USD 286 B investments in construction and infrastructure investments for 2010-2014.

On 24 May 2010, the Algerian government approved on a USD 286 B five-year investment plan that aims to boost infrastructure as well as diversify the country's economy away from oil dependency. Algeria launched a similar five-year plan for 2005-2009 to build infrastructure including a 1200-km long highway, water desalination plants and thousands of state-subsidized housing units.

The 2010-2014 development program provides for the construction of 1.2 million apartments.

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