Turkey-Algeria Business Forum Convenes in Ankara to Boost Economic Ties
Ankara, May 7, 2026 – The Turkey-Algeria Business Forum was successfully held in Ankara, with the participation of Turkish Trade Minister Ömer Bolat, Algerian Minister of Foreign Trade and Export Promotion Kamel Rezig, and business representatives from both countries. The forum emphasized the mutual commitment to enhancing economic cooperation and reaching a bilateral trade volume target of $10 billion.
Negotiations for Preferential Trade Agreement and Investment Protection Ongoing
Minister Bolat announced that negotiations for a preferential trade agreement between Turkey and Algeria, which have been ongoing for two years, are expected to conclude by the end of the year. Additionally, discussions are underway to finalize an agreement on the promotion and protection of investments. Bolat highlighted Algeria’s significance as Turkey’s third-largest partner in Africa and seventh globally in contracting investments.
Turkish investments in Algeria currently stand at approximately $8 billion, with bilateral trade reaching $5.6 billion last year. “The leaders of both countries have set a target of $10 billion in mutual foreign trade volume, and we believe that this year will see a significant upward momentum in foreign trade between the two countries,” stated Minister Bolat.
Turkish Investors Eye Renewable Energy Projects in Algeria
Bolat underscored Algeria’s strong consumption power and favorable investment environment. The establishment of a Ziraat Bank branch in Algeria was noted as a crucial bridge between the business communities of both nations. Turkish investors are active in various sectors in Algeria, including iron and steel, chemicals, cleaning products, and textiles. These investors are also prepared to participate in renewable and solar energy projects in the future.
A significant joint venture, the Ceyhan Polypropylene (PP) Project, a partnership between Rönesans Holding and Algeria’s national oil and gas company Sonatrach, is progressing rapidly. This investment, expected to be operational within one to two years, will significantly contribute to Turkey’s petrochemical production and stands as one of the most important investments between the two countries.
Turkish contractors have successfully undertaken 687 infrastructure and public projects in Algeria, valued at $24 billion, demonstrating their strong presence and capabilities in the country.
Business Community Awaits Preferential Trade Agreement and Visa Facilitation
Nail Olpak, Chairman of the Foreign Economic Relations Board (DEİK), highlighted Algeria’s vast potential in solar energy and green hydrogen in the Sahara region, identifying it as one of the continent’s largest. Olpak emphasized potential collaborations in manufacturing, banking, and private sector development. The business community eagerly anticipates the conclusion of preferential trade agreement negotiations.
Olpak stressed the importance of Ziraat Bank’s presence in Algeria and called for solutions regarding guarantee letters and project financing for businesses. He also noted that long-term business visa facilitation and a social security agreement covering employees in both countries are among the business community’s key expectations.
Strategic Collaborations Deepen Economic Ties
Muhammet Mesut Toprak, Chairman of the DEİK Turkey-Algeria Business Council, stated that Turkish companies have undertaken significant projects in strategic areas such as infrastructure, energy, construction, agriculture, and industry in Algeria, with 30 main Turkish contracting firms actively operating in the country. Toprak highlighted the development of collaborations in strategic areas like seed production and the participation of Turkish firms in the automotive sub-industry, contributing to localization efforts. These achievements, along with successes in energy and infrastructure projects, clearly demonstrate the deepening economic relations between the two nations.
During the forum, several memoranda of understanding were signed, including agreements between DEİK and the Algerian Economic Renewal Council (CREA), MY Silo and AGROMAVI, Optimum Süreç Tasarım ve Uygulamaları AŞ and SOPI, KLE Information Technologies and Exwor, and Condor and Sarl LYC.
Source: https://www.trthaber.com/haber/ekonomi/turkiye-cezayir-is-forumu-ankarada-gerceklestirildi-944356.html
