Algeria and China signed 19 cooperation agreements on July 19, 2023, during Algerian President Abdelmadjid Tebboune’s official visit to China. It is being reported that China will invest $36 Billion in view of the agreements that cover a wide range of areas, including energy, technology, infrastructure, trade, and investment. A number of MoUs were signed between the two countries, such as joint construction of the Belt and Road Initiative, the cooperation in the field of energy, including the development of oil and gas fields, the construction of power plants, and the promotion of renewable energy. Moreover, an agreement on the cooperation in the field of technology, including the development of telecommunications, the production of electronic products, and the promotion of scientific research were also signed to promote bilateral trade. The signing of these agreements is a significant step in the deepening of the strategic partnership between Algeria and China.
The Ministry of Foreign Affairs of China said in a statement that the agreements were in sectors including aerospace, agriculture, energy, railway transportation, science and technology. There were also agreements in education and sports, as well as telecommunications, sustainable urban development, trade, and inspection and quarantine. The agreements will help to boost trade and investment between the two countries, and they will also help to promote cooperation in a wide range of areas. The signing of the agreements was welcomed by both sides. Algerian President Tebboune said, “The projects and agreements concluded with the Chinese side are huge and mutually beneficial to both countries.” He added, “Algeria seeks to bring economic relations with Beijing to the level of good historical political relations and that his visit opened “all horizons of investment between the two countries.” On the other side, Chinese President Xi Jinping said that the agreements would “deepen the friendship between the two countries and promote their common development.” Algeria and China have been allies for a very long time, and Algerian imports from China have increased significantly in recent years, going from $400 million in 2003 to $8 billion in 2022.
Due to its location in the Mediterranean Sea, the North African country is strategically significant to China. Both Algeria and China are committed to safeguard each other’s sovereignty and territorial integrity. The signing of the agreements is a major step forward for both countries to advance their comprehensive strategic relationship and support mutual interests.
Research Associate, Pakistan House