Algeria: Algerian companies urged to invest in Senegal Emergence Plan

President Macky Sall has said that relations between Senegal and Algeria must surpass traditional bilateral relations and must now encourage economic activities as well as investments and trade between the two countries. He pointed out that the agricultural and energy sector as key areas that could be explored by investors from the two countries. He also paid tribute to President Bouteflika. Sall was speaking at a Senegalese-Algerian meeting in Algiers when he made these remarks.

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Sall said Senegal Emergence Plan (PSE) is a platform that encourages foreign investment in socio-economic development projects. He urged Algerian state-owned companies and private companies to fully take part in the plan which began in 2014 and will go on till 2018. He added that energy and agribusiness are “two key industries” for which the two countries can launch partnerships “as soon as possible.” There are also housing, construction, transport, education and health projects in the emergence plan. Cooperation between Algiers and Dakar “should not be limited to the formal political relations but must extend further into the economic partnership, public and private investment, and trade,” Sall stated.

Algeria’s state-owned Sonatratch oversees the exploitation of oil and gas in the country in partnership with other international oil companies.

Senegal discovered oil along its offshore at the end of last year in commercial quantity.

During his speech, the Senegalese president hailed the ties with Algiers as he pointed out that they share values of culture and civilization as well as the pan-African ideal. He said these similarities represent “a solid foundation on which the two countries can build closer relationships and forge a mutually beneficial partnership.”

About Geraldine Boechat 2665 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia