• KITA Held 'Korea-Algeria Business Forum' in Algiers
    2019-01-02 hit 1027


    KITA Held 'Korea-Algeria Business Forum' in Algiers


    - Economic delegation consisted of 29 large companies, such as Daewoo E & C and Lotte Confectionery, and medium and small businesses participated -


     The Korea International Trade Association (Chairman, Kim Young-joo) held the 'Korea-Algeria Business Forum' on January 17 (local time) with an economic delegation consisting of 41 participants from 29 large companies as well as medium and small businesses at Algiers in Algeria.


     The forum, held under the theme of 'Leap and Prosperity through Mutual Cooperation', was attended by 200 participants, including high ranking officials from both countries such as Prime Minister Lee Nak-yeon of Korea, Prime Minister Ahmed Ouyahiaof Algeria, Minister Youcef Yousfi of Industry and Mines and Minister Abdelkader Messahel of Foreign Affairs and business people and shared opinions about the strategic economic cooperation for industrial diversification, the investment and partnership in Algeria, and the operation cases of the joint ventures in construction and infrastructure.


     Large companies such as Daewoo E & C, Lotte Confectionery and POSCO Daewoo and promising medium and small companies like Mom Healthcare, and Satrec Initiative sought for business opportunities to advance into the Maghrib region and preoccupy the market.


     Prime Minister Lee Nak-yeon said in his keynote speech, “Algeria is the only country in Africa that has strategic partnership with Korea and has a lot in common in terms of history and culture.” He stressed, “Based on this, the two countries need to strengthen cooperation in the fields of manufacturing and information and communication technology (ICT) in the future.”


     Chairman Kim Young-joo of the Korea International Trade Association said in his opening speech, “Recently, Algeria has been trying to diversify its industries by establishing automobile assembly plants through attracting foreign direct investment.” He suggested, “Korean companies need to expand their investment in Algeria and cooperation with Algerian companies and the two countries need to seek the ways to leap and prosper.”


     The economic delegation will move to Tunis on December 19th to attend the 'Korea-Tunisia Business Forum' and participate in the 'One-on-One Conference and Morocco Business Forum' in Morocco on December 21st.


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