The Republic of Korea’s Minister for Trade, Industry and Energy Dukgeun Ahn met Algeria's National People's Assembly (APN) President Brahim Boughali today in Seoul to discuss measures for wider economic cooperation between the two countries.


The bilateral meeting was convened on the occasion of Assembly President Boughali’s visit to Korea, succeeding the Algerian president’s visit in 2003. As a follow-up to the recent Korea-Africa Summit (June), today’s high-level exchanges aim to strengthen Korea’s economic cooperation with Algeria, the only African country at present with which Korea is in a strategic partnership.


Minister Ahn expressed appreciation for Assembly President Boughali’s strong support towards resolving the challenges experienced by Korean plant companies operating in the Algerian market and asked for the Algerian Assembly and government’s interest in Korean firms’ participation in Algeria’s social overhead capital (SOC) plant projects going forward. He also requested that Algeria’s recently tightened import regulations be eased, proposing that the two countries continue their cooperative ties for a forward-looking relationship through the signing of a bilateral Free Trade Agreement (FTA).


Assembly President Boughali stated that Korea and Algeria are mutually complementary partners in view of Korea’s advanced technology and development know-how and Algeria’s rich population and resources. He expressed hope for Korean companies’ participation in Algeria’s industrial diversification efforts, suggesting that they swiftly resume the joint commission that has been on hiatus for 17 years.


Minister Ahn welcomed the joint commission’s resumption and shared plans to activate working-level consultations, maintaining that the two countries’ trade and industry ministries promptly enter the Trade and Investment Promotion Framework (TIPF) memorandum of understanding (MOU) proposed by Korea as a platform for trade and economic cooperation.