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Algeria and South Korea target four sectors for investment

By , based on Algérie 360

Algeria and South Korea target four sectors for investmentIllustrative image · Yetkin Ağaç · Pexels · Licence Pexels

Algeria and South Korea are targeting the automotive, chemicals, industrial equipment and cybersecurity sectors to strengthen their economic partnership. Public officials and companies discussed South Korean investment, local production and technology transfers in Algiers at a forum organised by KOTRA and the South Korean Embassy.

Algeria and South Korea are targeting the automotive, chemicals, industrial equipment and cybersecurity sectors to strengthen their economic cooperation, according to Algérie 360. Discussions are focusing in particular on increasing South Korean investment, local production and the transfer of technology to Algeria.

The Algerian-South Korean economic forum organised in Algiers on Wednesday by the South Korean Embassy and KOTRA, the South Korean trade and investment promotion agency, brought together public officials, investors and companies. Omar Rekkache, director-general of AAPI, the Algerian Investment Promotion Agency, presented opportunities in automotive subcontracting, component production and the modernisation of industrial capacity.

AAPI is to support South Korean investors by directing them towards available projects and facilitating their contacts with Algerian economic organisations, Omar Rekkache said. The discussions are taking place as part of the 20th anniversary of the partnership between the two countries and follow their stated desire to broaden their economic and technological cooperation, announced on 2 October.

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