Honorable Minister
Excellency Ambassador
Ladies and Gentlemen

It’s a great pleasure for me to address to you this message while you meet in Algiers to set new horizons for the economic cooperation between Algeria and the United States. This trade and investment mission to Algeria is a significant initiative taking place at a time when Algeria is pursuing its march towards progress and national reconciliation, while confronted with huge challenges relating to political reforms and democratization of national institutions as well as the implementation of ambitious development economic programs.

The Embassy of Algeria in Washington and the US Algeria Business Council which have already organized the first edition of this event in April 2008, are very pleased to organize the second one. Our main objective is on the one hand to give American entrepreneurs the equal opportunity to explore the huge investment possibilities presented by the Algerian market and the other hand offer to both business communities the best avenue to establish joint partnership venture.

It is not necessary to recall the increasingly friendly character reached at the Algerian-American relationship. But it is important to note that our two countries enjoy mutual confidence that reflects the strong desire of the two Governments to nurture stronger bilateral ties through the exploration of the opportunities offered to them. Algeria and United States share great convergence of views on a wide range of issues of mutual interest. Our relationship enjoys a strong economic and political foundation that we wish to consolidate through increased security and military cooperation, increased dialogue and greater concertation with a view to establishing a mutually strong and lasting strategic partnership.

Today, Algeria is the second most important destination in the Arab World and Africa for US investments. Given the size of its hydrocarbon sector, Algeria holds important oil reserves and the 7th largest reserves of natural gas in the world. My country is also an important supplier of natural liquefied gas and petroleum products to the United States (721 000 barrels /day of oil and 5% of the overall American needs in term of gas), and therefore plays a major role in the security of America’s energy supply.   

For the year 2008, exchanges between the two countries have reached in term of value 22 billion dollars. However, they still continue to be focused on hydrocarbons sector. That’s why I reiterate my call and the one of my Government to American companies so that they become more involved in the other sectors of the Algerian economy.

In addition to the two growth support plans, the Algerian Government will soon be launching another new five-year plan for economic recovery (2009-2014) for an amount of more than $100 billion. Many areas of our national economy are worth looking into, such as renewable energy, infrastructure, agriculture, transportation, water resources, IT, agribusiness, financial services and tourism.

Well known for your willingness to explore new market and expand your activities to the Algerian market outside hydrocarbon, you will find all the arrangements and facilities for profitable and mutual partnership in Algeria. Strengthening our cooperation in all areas that you are considering for investment meets our expectations and constitutes our objectives to give our relation the required impulse and ambition.

In short, today all conditions exist for profitable investments by US operators, which would greatly enhance the already significant bilateral cooperation that binds Algeria and the United States. By using your experience and helping Algerian firms to benefit from your know-how and technologies, you can make a major contribution to the achievement of our common goals for the benefit of our two countries.

Looking forward to seeing you more involved in the Algerian market, I am really honored to welcome you in my country and I wish all of you great success in your proceedings.
 
Thank You.

Ambassador Abdallah Baali
Ambassador of Algeria to the United States