- Title: African business leaders plan deeper ties at Algiers investment forum
- Date: 5th December 2016
- Summary: ALGIERS, ALGERIA (DECEMBER 3, 2016) (REUTERS) PARTICIPANTS OUTSIDE INTERNATIONAL CONFERENCE CENTRE OF ALGIERS (CIC) BANNER OF AFRICAN INVESTMENTS AND BUSINESS FORUM VARIOUS OF PARTICIPANTS INSIDE THE CIC PARTICIPANTS INSIDE CONFERENCE HALL ALGERIAN PRIME MINISTER ABDELMALEK SELLAL GREETS PARTICIPANTS, WALKS THROUGH THE CONFERENCE HALL VARIOUS OF CONFERENCE HALL AND PODIUM AND LOGO OF AFRICAN INVESTMENTS AND BUSINESS FORUM SELLAL DURING HIS SPEECH (SOUNDBITE) (Arabic) ALGERIAN PRIME MINISTER, ABDELMALEK SELLAL, SAYING: "Ladies and Gentlemen, confronted with the emergence of terrorism, migration and poverty, we must focus on treating the root causes of the disease as well as the social and economic development of this land, this land which is the cradle of human civilization, and that is the reality of history." VARIOUS PARTICIPANTS LISTENING TO SPEECH BY SELLAL (SOUNDBITE) (Arabic) ALGERIAN PRIME MINISTER, ABDELMALEK SELLAL, SAYING: "First of all, to rely on our skills and our institutions for the development and progress of our peoples. This organized meeting under the banner of the search for new dynamics is a valuable opportunity for dialogue and consultation, in order to focus on the fruitful and continuous interdependence between the various stakeholders in our country and to develop renewed, complementary mechanisms between us. Peace be upon you." (SOUNDBITE) (French) CEO OF AGRIBUSINESS GROUP "SIM", TAIB EZZRAIMI, SAYING: "The aim of our participation is to forge business relationships with our African friends and brothers. The group SIM is already present in more than 17 African countries but I think it is the time and the opportunity to forge other partnerships and find out what Africa needs. We know already, but we don't know Africa well enough. So I think that our African brothers will, I think, be listening and we will be listening to their needs too because we have exhibited our products and we are expecting a great deal from this forum, from this meeting." PARTICIPANTS INSIDE THE CONFERENCE HALL VARIOUS OF PARTICIPANTS INSIDE THE CIC COMPLEX (SOUNDBITE) (English) SOUTH AFRICAN BUSINESSWOMAN, LEBO HAROUN, SAYING: "Our participation is to look at opportunities in Algeria and see how we can work with Algiers on any available opportunity in Algeria." VARIOUS OF DIFFERENT STANDS INSIDES THE CIC COMPLEX (SOUNDBITE) (Arabic) ECONOMIC JOURNALIST, ABDELWAHAB BOUKROUH, SAYING: "We noticed that with the (oil price) crisis, there is a great reluctance (to invest). There is fear, and perhaps improvisation in terms of the treatment, which explains why Algeria turning back towards the African continent in a disorganised way. It is difficult for Algeria to turn back to the African continent, despite its historical ties. Returning late is better than not returning at all but I think that Algeria will find it very difficult to turn back towards the continent of Africa." VARIOUS OF STANDS AT CIC
- Embargoed: 20th December 2016 17:57
- Keywords: ALGERIA INVESTMENT FORUM AFRICA
- Location: ALGIERS, ALGERIA
- City: ALGIERS, ALGERIA
- Country: Algeria
- Reuters ID: LVA0015BLXEFP
- Aspect Ratio: 16:9
- Story Text: More than 800 business leaders from 40 African countries are attending an investment forum in Algiers, as part of moves to deepen economic ties across the continent.
In a keynote speech, Algerian Prime Minister Abdelmalek Sellal told the African Investment and Business Forum the continent had to rely on its own ingenuity and skills in order to improve Africans' lives.
The three-day meeting, which began on December 3, was attended by the World Bank and major financial institutions from Africa and the Arab world.
Sessions focused on developing the continent's energy, investment finance, infrastructure, agriculture and agribusiness sectors.
Host Algeria in July has already moved to boost its business environment.
In July it passed a new law offering tax breaks and cuts to bureaucracy as part of efforts to attract funds to its non-oil sector.
Algeria wants to diversify away from oil and gas, which provide 60 percent of state budget funds, as oil is currently trading at around half the level of mid-2014.
Among those attending the forum was Taib Ezzraimi, CEO of agribusiness group SIM.
"The aim of our participation is to forge business relationships with our African friends and brothers," Ezzraimi said. "Our African brothers will, I think, be listening, and we will be listening to their needs, because we have exhibited our products and we are expecting a great deal from this forum, from this meeting," he added.
Other participants said they were open to new opportunities across the continent and aimed to deepen existing ties wherever possible.
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