ALGERIA: South Korean President Roh Moo-hyun arrives in Algiers for three-day visit to discuss trade and energy cooperation

Record ID: 574265

  • Title: ALGERIA: South Korean President Roh Moo-hyun arrives in Algiers for three-day visit to discuss trade and energy cooperation
  • Date: 12th March 2006
  • Summary: VARIOUS OF KOREAN AIR PLANE ARRIVING (2 SHOTS)
  • Embargoed: 27th March 2006 13:00
  • Keywords:
  • Location: Algeria
  • Country: Algeria
  • Topics: International Relations,Economic News
  • Reuters ID: LVACT4ZW72TE4VCZ61EXTZG5B0JK
  • Story Text: South Korean President Roh Moo-hyun arrived in Algeria on Saturday (March 11) at the start of a three-day visit to discuss trade and energy cooperation between the North African OPEC-member and the world's seventh-largest oil consumer.
    Roh's visit was the last stopover in a three-country tour of Africa that started in Egypt and Nigeria, part of Seoul's efforts to boost its influence in the Middle East and secure energy supplies for its fast-growing economy.
    It is the first trip to Algiers by a South Korean head of state.
    In an interview with Algerian official news agency APS ahead of the visit, Roh said strengthening economic links and energy cooperation would be top priorities in his talks with Algeria's President Abdelaziz Bouteflika.
    Algeria is tapping foreign investment and expertise as part of a five-year programme worth $80 billion USD to boost growth and modernise its infrastructure.
    "I hope exchanges and cooperation in energy, infrastructure and information technologies will see further development," he said, adding that a memorandum of understanding on energy would also be signed.
    Trade exchanges between the two countries totalled $465.5 million USD last year against $595 million USD in 2004, according to Algerian customs data.
    Algeria imports electronic and industrial products and vehicles from South Korea and sells it energy and chemical products.
  • Copyright Holder: REUTERS
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