Algeria: US Businessmen to Visit Algiers Seeking Investment Opportunities
September 16, 2010 by TMO
Edited by Amina Murtada
Algeria (Algiers) – A delegation of about fifty American businessmen to visit Algeria from 25 to 30 September, seeking investment opportunities in the country, Global Arab Network reports learned.
Algerian Embassy in Washington told media that the six-day trade mission, organized by jointly by the embassy and US-Algeria Business Council (USABC), will offer a great opportunity for US companies operating in the sectors of pharmaceutical industries, food-processing, building, water resources, information and communication technologies (ICTs), engineering services, transports, hydrocarbons, renewable energies, as well as vocational training regarding business management.
US Trade Mission to Algeria will be led by Mr. Paul Mikolashek, Chairman of the US-Algeria Business Council and Vice President of Raytheon International who states: "This year’s US Trade Mission to Algeria offers a great opportunity for US companies to seek new markets for our products and services. Algeria continues to show promise as a destination for US investment and a market for American products and has announced its increased interest expanding mutually beneficial business relationships. I welcome all of you to join me and the USABC team to take advantage of these two events and conduct a board meeting in Algiers during this period, enabling our Algerian members to more fully participate. I encourage to register soon and also encourage other associates to consider participating as well."
The 2010 US Trade & Investment Mission to Algeria is the third annual trade mission of its kind.
According to US-Algeria Business Council, HH Abdallah Baali, Ambassador of Algeria to the United States, remains a key supporter of these trade missions and his ongoing support and leadership have secured numerous high-level meetings for the US delegates participating in the trade missions. The Embassy of Algeria in Washington, DC, under the Ambassadorâ€™s leadership, plays a key role in the organization of these trade missions.
The US-Algeria trade relationship is dynamic and each year the trade volume between the two countries increases. Recently Algeria ratified a law concerning US-Algeria trade that will change the way Algerian importers pay for goods.
According to the Ordinance nÂ°9-01 – 29 Rajab 1430, all future transactions for the payment of goods must be conducted by letter of credit. Additionally all imported goods must be new.