US Trade & Investment Trip to Algiers, February 16-18, 2010

In the framework of its efforts to strengthen the economic and trade relations between Algeria and United States and to develop partnerships between companies from the two countries, the United States Department of Commerce is organizing from Tuesday February 16th, 2010 to Thursday, February 18th, 2010, a trade and investment trip to Algiers. The US delegation is conducted by Deputy General Counsel to the Department of Commerce, Mrs Nicole Lamb-Hale, and includes other high officials, namely Deputy Secretary of Commerce, Mr Francisco Sanchez, and 24 American companies.

Large groups like Boeing, Electrolux, and Motorola are part of the US delegation added to various other firms operating in construction, telecommunications, water technology, agribusiness and defense.

During their prospecting trip to Algiers, the US companies will have talks with their Algerian counterparts as well as some leaders of the Algerian Economic Sector. Furthermore, meetings are scheduled to be held between the US delegation officials and some Algerian Ministers such as the Trade Minister, Mr. El Hachemi Djaaboub, the Finance Minister, Mr. Karim Djoudi, the Foreign Affairs Minister, Mr. Mourad Medelci, and the Industry and Promotion of Investments Minister, Mr. Hamid Temmar.

Algeria is the second largest trading partner of the United States in Africa and the Arab world. In 2008, trade between the two countries amounted to more than $21 billion. Exports from Algeria to the United States reached  almost $ 20 billion while imports of American products in Algeria were established to $1,244 billion. However, sequel to the drastic fall of oil prices, the trade volume exchange under the year 2009, should amount to $12 billion.

As the trade exchanges between the two countries remain dominated by the hydrocarbon component, the Authorities of both countries are working together to their diversification.