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Egypt and Algeria aim to push their bilateral trade volume to $5 billion in the coming years, Prime Minister Mostafa Madbouly said on Wednesday, highlighting strong political backing in both countries to expand economic cooperation.

Speaking at a joint press conference in Cairo with Algerian Prime Minister Sifi Ghrieb following the ninth session of the Egyptian-Algerian High Joint Committee, Madbouly said bilateral trade grew by 18% in 2024 to reach $1 billion.

He said both countries see promising opportunities in agriculture and food security, transport and logistics, ICT, renewable energy, green hydrogen production, industrial localization, ports, housing, urban development and tourism.

He also stressed the importance of cooperation in artificial intelligence and digital transformation.

Following their co-chairing of the ninth session of the joint committee, the prime ministers witnessed the signing of several agreements and memoranda aimed at strengthening bilateral cooperation across a wide range of sectors.

The agreements cover the fields of accreditation, housing and urban development, city planning, agriculture, education, youth and sports, culture, local development, and international exhibitions and markets.

They also bolstering cooperation in finance, energy transition and renewable energy, technical cooperation in vocational training, consumer protection, and public administration and civil service.

Madbouly noted that a joint working group will follow up on the implementation of the agreements and memoranda signed during the committee session.

Source: Egypt Today