These agreements were signed on the occasion of the holding, Sunday in Algiers, of the 4th session of the Algerian-French Joint Economic Committee (COMEFA), which precedes the High Level Inter-governmental Meeting (CIHN), scheduled in Paris on 7 December under the co-chairmanship of the two Prime Ministers.
See also: COMEFA meeting in Algiers: Major step in preparation for CIHN meeting early December in Paris
The results of the 4th COMEFA were dubbed “satisfactory” and allowed giving a “comprehensive evaluation” of the various fields of cooperation between the two countries.
“This COMEFA session is satisfactory for many reasons. It led to interesting discussions and clear guidelines to further deepen the economic partnership between the two countries,” said the minister of Foreign Affairs Abdelkader Messahel.
The French minister of Europe and Foreign Affairs Jean-Yves Le Drian said, for his part, that the works of this session were “very positive,” adding that the economic cooperation between Algeria and France “has made important steps.”
On the occasion of this session, three economic partnership agreements were signed between Algeria and France.
It is the signing of a shareholders’ agreement between the PMO Group of Constantine, Condor Group, Palpa Pro Company and French group PSA Peugeot for the production of vehicles in Algeria. The capital of this firm, Peugeot Citroen Production Algerie (PCPA) is shared out according to the 51/49 rule.
In addition, the two sides signed a memorandum of understanding for the setting-up of a consortium for the export of Algerian fruits and vegetables to Europe, and a partnership in the field of organic agricultural products between Algerian Group Agromed and French company Agrolog.
They also signed a shareholders' agreement between Elec El Djazair, the Gica Group (cement works) and the Schneider Group in the field of manufacturing of low, medium and high voltage electrical equipment.
The minister of Industry and Mining Youcef Yousfi said that several other industrial fields were discussed during the works of the COMEFA, citing the pharmaceutical industry, food-processing, and construction materials.
According to him, discussions for the implementation of partnerships in these fields “are progressing well.”