On 2006.3.12, Korea & Algeria relation has been elevated as a ‘strategic partnership’ at the summit of BOUTEFLIKA-ROH at that time.

Mentioning such strategic partnership between the two countries at the diplomatic reception held on the occasion of the 64th anniversary of the launch of the Algerian liberation struggle, Algeria Amb. Mohammed EL Amine Derragui asked for Korean companies to pay more attention to Algerian market through their more brisk investment into his country.

Held at a downtown hotel Seoul on Nov. 9th evening, Algeria National Day reception highlighted its investment environment for foreign investors among others.

As regarding Algeria’s ambitious policies of development and sectors’ strategies first off, The new industrial revival policy highlighting 12 strategic sectors, are namely the steel and metalworking, hydraulic binders, electrical and household appliances, industrial chemistry, mechanics and automotive, pharmaceutical production, aerospace, construction and ship repair, advanced technology, food processing, textiles and clothing, leather and timber products, wood and furniture industry as well as outsourcing, according the Embassy of Algeria.

Access to regional markets is another edge for Algeria because of geostrategic position allowing proximity to the European, African and Arab markets as well as 7 border markets (Tunisia – Libya – Niger – Mali – Morocco – Western Sahara – Mauritania) plus the Mediterranean sea on the North.

Modern infrastructure in conformity with international standards and qualified, young and competitive labor force, competitive production factors costs and last but not least incentives for investment including important tax incentives, up to 10 years of exemption, depending on the location and size of the project can be mentioned as Algerian’s investment edges, to name just a few.

Touching upon the fact that Algeria is a gateway to the Middle East, Afria linking Europe, Director-General Hong Jin-wook from the division of the Middle East & Africa, MOFAT said Algeria has its big development potential up to agriculture and tourism field, adding its territory also is the largest in Africa and Algeria is one of major oil-producing countries.

Particular assests for Algeria are as follows in terms of availability of important natural resources: (Source: Embassy of Algeria)

◦18th largest oil producer

◦12th largest oil exporter

◦15th place in world oil proven reserves

◦3rd producer and 5th exporter of natural gas

◦3rd supplier of natural gas in the European Union

◦7th place in the world in terms of proven gas resources

◦4th total energy supplier to the European Union

◦4th largest Technically Recoverable Shale Gas resources

◦2nd largest holder of foreign exchange reserves after Saudi Arabia in the MENA region

◦3rd largest holder of gold reserves in the MENA region after Saudi Arabia and Lebanon

◦The less indebted of the 20 countries in the MENA region

◦Solar potential: 3000 hours of sunshine per year

◦Other mineral resources: phosphate, zinc, iron, gold, uranium, tungsten, kaolin, silicon, among other.

The following is Algeria’s Ambassador Mohammed El Amine Derraggui’s Message on the occasion of the Algeria National Day 2018 which was sent to The Seoul City Magazine to publish it. –Ed.

The celebration of the 64th anniversary of the beginning of the Algerian War of Liberation gives us the opportunity to remember the sacrifices made by martyrs to restore Algeria’s independence, after a hundred and thirty years of occupation and seven years of a bloody war. The message left by the freedom fighters and martyrs is of the outmost importance and relevance when Algeria strives for Economic and social development and State consolidation.

During the last decades, under the high patronage of HE. Mr Abdelaziz BOUTEFLIKA, President of the Republic, Algeria witnessed rapid changes and transformations: the effects of the National tragedy has been overcome as a result of the acceleration of the implementation of the measures enacted by the Charter for Peace and National Reconciliation (adopted in 2005). The adoption of a new Constitution in 2016 reinforces the democratic practice in the political sphere.

With regard to governance and economic management, the Algerian Government applied sound policies that improved the predictability and transparency, resulted in a significant growth outside hydrocarbons and strengthened the country’s external financial position. The economic diversification is considered as paramount through investment promotion, industrial policy, agriculture and rural renewal and the construction of infrastructures (public works, water resources, environment, and services). In the field of socio-economic development, Algeria achieved the majority of the Millennium Development Goals adopted by the United Nations.

Korea and Algeria are strategic partners since March 2006 and trade exchanges and the economic cooperation has reached an appreciable level, deemed to grow in the future. South Korea proved to be one of the key partners of the Algerian government on the path of socioeconomic diversification and industrial growth.

Firmly attached to peace and stability on the regional and international levels, Algeria and South Korea are committed to mutual understanding and collaboration in all fields.