Algeria and Ethiopia discuss trade cooperation in energy sector
On March 24th, the Algerian Minister of State for Energy and Renewable Energies met with Ethiopian Minister of Trade and Regional Integration in a meeting focused on enhancing trade cooperation between Algeria and Ethiopia, particularly in the fields of energy, mining, and renewable energy.
According to AL24 News, Minister Mohamed Arkab provided an overview of Algeria’s energy sector, including areas such as hydrocarbons exploration and exploitation, petroleum products, and petrochemicals, as well as training and education in these fields.
In a statement released by the Algerian ministry, it detailed how the discussion also covered electricity production, transmission, and distribution, as well as mineral resources, particularly in fertiliser production.
In this context, Minister Arkab highlighted Algeria’s readiness to supply Ethiopia with fertilisers, particularly 46% urea, which is a significant portion of Ethiopia’s agricultural needs, estimated at around 2 million tons annually.
He also underscored Algeria’s progress in African economic integration, continuing efforts to diversify transport and trade networks through major projects, such as the Tindouf-Zouérate railway, and expanding trade exchanges via free trade areas and Algerian commercial banks across the continent.
Arkab emphasised the importance of cooperation in developing joint projects, enhancing investments in the oil and gas sectors, and achieving energy integration across Africa.
He noted that this would contribute to Africa’s goal of energy self-sufficiency and ensure energy supplies for all member states.
In turn, Ethiopian Minister Kassahun Goffe praised Algeria’s role in promoting regional integration in Africa and expressed his country’s interest in further economic cooperation with Algeria, particularly in energy, agriculture, and trade.
He also expressed a desire to collaborate with Algeria to leverage its expertise in the regulatory and legal frameworks governing the trade and marketing of crude oil, energy, and petroleum products.
Both Algeria and Ethiopia agreed to continue consultations and establish practical mechanisms to facilitate energy cooperation, trade and investment exchanges, furthering economic integration between the two nations.
AL24 News
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