ALGIERS – Tuesday, 16 May 2023 (APS) – The minister of Trade and Export Promotion, Tayeb Zitouni, received Monday in Algiers the Portuguese minister of Economy and Maritime Affairs, Antonio Costa Silva, with whom he discussed the prospects for the strengthening of bilateral economic relations, especially in investment and trade, the ministry said in a statement.

During the meeting, attended by Portugal’s ambassador to Algeria, Luis de Albuquerque Veloso, Zitouni and the Portuguese minister examined the economic and trade relations between the two countries and “the prospects for their development and strengthening.”

In this respect, the “new incentives and new benefits of the new Law on Investment for foreign investors” were highlighted.

The law will contribute to “boosting the commercial momentum between the two countries,” according to the statement.

The minister of Trade stressed “the need to increase the efforts to establish partnerships based on the win-win approach and to encourage joint investments in vital sectors, such as food processing and manufacturing industries.”

The Portuguese minister of Economy and Maritime Affairs said “Algeria is an important economic partner for Portugal.”

He added that his country would work for activating cooperation and partnership with Algeria.