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Algeria and China sign two agreements to strengthen bilateral ties

Algeria and China sign two agreements to strengthen bilateral ties

MSN | 5th December 2022

By Daniel Stewart

Algerian Foreign Minister Ramtane Lamamra and the Chairman of the National Development and Reform Commission of China, He Lifen, signed on Monday two agreements to increase bilateral cooperation between the two countries.

Specifically, the signing of the "Executive Plan for the Joint Implementation of the Belt and Road Initiative" as well as the "Three-Year Cooperation Plan in Key Areas 2022-2024" comes within the framework of "strengthening the historical relations between the two friendly countries in various fields," APS news agency reported.

Algiers has expressed its intention to strengthen its trade and economic relations with Beijing. China, for its part, has also expressed its support for a solution for Western Sahara in accordance with UN resolutions, as advocated by Algeria.

The Algerian authorities submitted in early November a formal application to join the BRICS, an economic and trade organization comprising Brazil, Russia, India, China and South Africa.

In addition, among other approaches, the Algerian hydrocarbons company, Sonatrach, and China’s Sinopec Oil & Gas Limited (SOOGL), announced in May an agreement for the sharing of oil production for 25 years in eastern Algeria, worth more than 450 million euros (US$490 million).

 source: MSN News 360