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Netherlands signs investment agreement with Algeria

Netherlands Info Services

Netherlands Signs Investment Agreement With Algeria

THE HAGUE, 21/03/07 — Economic Affairs State Secretary Frank Heemskerk signed an investment protection agreement (IBO) yesterday with the Algerian Ambassador, Benchaa Dani. Gas supplies will play an important role.

"This IBO is a bilateral treaty between the Netherlands and Algeria under which both countries sign up to treating mutual investments well" and that "creates legal security for mutual investors," according to the economic affairs ministry. The treaty "enables a further intensification of mutual trade relations. This is important for Dutch investors because the Algerian market is attractive for sectors such as energy and agriculture."

Algeria is "potentially an important supplier of LNG (liquid natural gas)" to the LNG landing terminals that are planned in the Netherlands. "The Netherlands has the ambition of becoming the ’gas rotunda’ of Europe. Imports of among other things gas from Algeria will contribute to this."

 source: NIS News Bulletin