Algeria, Slovakia and Austria Deepen Economic Relations
A working meeting was held at the Imperial Hotel Vienna, organized by the Algerian Embassy in Austria and Slovakia with the support of the Austro-Arab Chamber of Commerce (AACC).
The Embassy of Algeria to Austria and Slovakia organized a significant working meeting at the Imperial Hotel Vienna with the support of the Austro-Arab Chamber of Commerce (AACC). / Picture: © Wikimedia Commons,Gugerell, Public domain
The occasion was the official visit of the Algerian Foreign Minister, His Excellency Ahmad Attaf, who used the event to strengthen bilateral business relations between Algeria and Austria and to explore investment opportunities. Participants included distinguished representatives of Austrian companies, dignitaries, and members of the Algerian delegation.
At the beginning of the event, Foreign Minister Ahmad Attaf gave a detailed presentation on the current economic situation and investment climate in Algeria. He highlighted the Algerian government's recent economic reforms and initiatives aimed at making the country more attractive to foreign investors. In particular, he highlighted the efforts to reduce bureaucracy and improve the legal framework to encourage foreign investment.
Attaf also outlined the many sectors that currently offer promising investment opportunities, including renewable energy, particularly green hydrogen, as well as infrastructure, agriculture, and tourism. The Algerian government has launched special programs to promote these sectors and offer attractive investment conditions to foreign companies. These efforts are reflected in a series of new laws designed to simplify market access and business activities in Algeria.
Importance of Austrian-Algerian relations
In his speech, Dr. Werner Fasslabend, President of the AACC, emphasized the historical and economic importance of relations between Austria and Algeria. The two countries have maintained close economic and diplomatic relations for decades, which have intensified in recent years. Fasslabend particularly emphasized the current cooperation in the field of green hydrogen, which opens a new chapter in the partnership between the two countries. These collaborations could serve as a model for future joint projects in other sectors.
Question-and-answer session: direct dialog with the minister
A highlight of the meeting was the question-and-answer session, during which the Austrian company representatives present had the opportunity to enter into a direct dialog with Minister Attaf. Various topics were addressed in this interactive session, including the legal framework for foreign investors, guarantees for investments, and opportunities for joint ventures. Attaf answered the questions in detail and took the opportunity to highlight specific investment incentives and support from the Algerian government.
The participants were particularly interested in Algeria's plans to promote infrastructure development, including improving the transportation network and expanding the energy supply. These projects offer numerous business opportunities for Austrian companies, particularly in the construction, engineering, and energy sectors.
Role of the AACC and prospects
The Austro-Arab Chamber of Commerce played a central role in the organization and implementation of this meeting. Secretary General Dipl.-Ing. Mouddar Khouja emphasized the importance of the Chamber as a platform for dialogue and cooperation between Austrian and Arab companies. The AACC has set itself the goal of further expanding and deepening economic relations between Austria and the Arab world, including Algeria. By organizing such events, the Chamber creates important networking opportunities and supports companies in opening up new markets.
Positive outlook
The working meeting at the Imperial Hotel Vienna was a great success and an important step towards strengthening economic relations between Algeria and Austria. It provided a valuable platform for the exchange of information and the initiation of new business relationships. The Algerian government showed its determination to continue the process of economic reform and to make the country even more attractive to foreign investors.
The Austro-Arab Chamber of Commerce and the Algerian Embassy in Vienna expressed their satisfaction with the course of the meeting and signaled their willingness to continue working closely together in the future. Both sides see great potential for deepening bilateral relations, particularly in the areas of energy, infrastructure, and technology. Given the positive response and the numerous new business opportunities, the participants can look to the future with optimism. The event made it clear that Algeria is a promising partner for Austrian companies and that the economic cooperation between the two countries can expect many more exciting developments.