Our Trade with Algeria Has Quadrupled

Our Trade with Algeria Has Quadrupled

Our trade with Algeria in the first ten months of 2022 will grow by over 400% compared to the same period in 2021. This became clear during a meeting between the Minister of Economy and Industry Nikola Stojanov and the Ambassador of the People’s Democratic Republic of Algeria to Bulgaria H.E. Baya Bensmail. Among the products with the biggest jump are wheat and rye, whose exports increased 32 times. Double growth was observed in ammonia imports.

During the talks, concrete initiatives were discussed to further expand economic cooperation and strengthen trade ties. There is interest in food, beverages, pharmaceuticals, medical devices, apparel, machinery, electronics and electrical products, etc. Minister Stojanov highlighted Bulgaria’s performance in the field of information and communication technologies and proposed to identify initiatives for the exchange of experience in the digital economy. H.E. Ambassador Bensmail suggested that the two sides exchange information on the needs of the different national sectors in order to better identify opportunities for enhancing bilateral business partnerships.

They discussed further joint actions to strengthen business contacts between the two countries, as well as the upcoming 21st session of the Bulgarian-Algerian Joint Committee for Economic, Scientific and Technical Cooperation.