Minister of Finance and Head of Algerian delegation to BRICS Outreach Forum, Mr. Laaziz FAID, paid a courtesy call on with the Foreign Minister Dr. A. K. Abdul Momen, MP, yesterday in the place of residence in Johannesburg, South Africa. 

 

 

Foreign Minister and the Algerian Finance Minister exchanged views on various bilateral issues of mutual interests. Foreign Minister informed the long historical relations between both countries, which was pioneered by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman and expressed satisfaction at the state of excellent bilateral relations between Bangladesh and Algeria, which is growing in various fields including political, economic, business, trade, and investment. He also informed him about Bangladesh’s earnest interest in joining BRICS. The Algerian Finance Minister reiterated the NAM Summit of 1973 and defined BRICS as a fruit of NAM. 

 

 

Both parties agreed that despite excellent relations there are still huge untapped prospects between the countries. Dr. Momen requested Algerian Finance Minister to exhilarate the process of completing the Agreement on ‘Reciprocal bilateral promotion and protection of investment’ and ‘Avoidance of double taxation’. He also informed the Algerian Finance Minister about the socio-economic development and economic prospects. Highlighting that Bangladeshi pharmaceuticals exports to more than 100 countries, Foreign Minister suggested that Algeria can import the best quality pharmaceutical products from Bangladesh at a reasonably low price. Both countries may also start a joint venture on pharmaceuticals. He also proposed cooperation in IT and ICT sectors, defence, construction sectors, edible oil, and agriculture.

 

 

Both countries also agreed to hold high-level visits in the next year. While reflecting on the current energy/oil crisis, given the growing demand in Bangladesh due to the expansion of the economy, the Foreign Minister stated that Bangladesh needed brotherly support from Algeria to meet its energy needs. He expressed our keen interest in buying LNG from Algeria.

 

 

During the meeting, the Algerian Finance Minister said he would take up the issue with the concerned stakeholders. Algerian Finance Minister also underlined the need to engage more efforts to scale up bilateral collaboration beyond the traditional one. Foreign Minister invited him to Bangladesh. He stressed the need for expanding cooperation in the new and emerging areas through a time-bound and target-oriented roadmap and expediting pending agreements, MOUs, and new areas of collaboration. The Algerian Foreign Minister agreed to conclude those agreements as soon as possible.

 

 

Bangladesh Ambassador to Algeria and Foreign Ministry officials were also present during the call on.