Karachi : Algeria’s Ambassador to Pakistan, on the occasion of the nation’s 71st National Day, delivered a powerful address in Islamabad last night, celebrating the country’s glorious revolution and extending a robust invitation to Pakistan’s business community to invest in the rapidly growing Algerian economy, presenting it as a strategic “strong base leading to Africa.”
Says press statement issued by Algerian Embassy
The reception, marking the seventy-first anniversary of the Glorious Revolution of November 1, 1954, was attended by Special Assistant to Prime Minister for Industries and Production, Mr. Haroon Akhtar Khan, as the Chief Guest, along with a host of Excellencies and dignitaries.
A History of Unwavering Solidarity
The Ambassador dedicated a key part of the speech to acknowledging the deep-rooted historical solidarity between the two brotherly nations.
that Pakistan was among the first countries to support our liberation revolution since the Bandung Conference in 1955, also in the United Nations, until recovering our independence in 5 July 1962. Thank you Pakistan.”
The envoy highlighted the countries’ continued coordination and mutual support in regional and international organizations, affirming their firm positions on defending multilateralism and just causes, specifically mentioning Palestine and Western Sahara. Both nations continue to coordinate closely at the International Security Council in their capacity as non-permanent members.
Algeria’s Economic Transformation
The Ambassador painted a vivid picture of a nation undergoing a massive economic transformation under the leadership of President Abdelmadjid Tebboune.
– Growth and Stability: Algeria is witnessing a rapid renaissance, recording a growth rate of 4.1% in 2024, with a GDP of around $270 billion, making it the third-largest economy on the continent, notably operating without external debt.
– Future Projections: By 2027, Algeria is expected to be the second-largest economy in Africa, with a projected GDP of $400 billion.
– Energy and Resources: As an energy powerhouse and the first African producer and supplier of gas to Europe (around 50 billion cubic meters), the country is also developing mega projects to produce around 50 million tons of iron and 10 million tons of phosphate by 2027.
Major Invitation to Pakistani Investors
The core message to the Pakistani delegation was an open invitation to seize opportunity under Algeria’s new investment regime.
The Ambassador stressed that Algeria is now a major business center, calling it the “gateway to the continent” and a bridge of cooperation between Africa and Europe, Africa and Asia (via the Suez Canal), and Africa and America.
– New Investment Law: A new investment law since 2022 grants Algerians and foreigners the same rights and privileges, including significant tax exemptions.
– Success Stories: The Algerian Investment Promotion Agency registered more than 17,000 investment projects in just three years, including around 300 Mega projects, from investors across Arab, European, and Asian countries.
* Trade Platform: The recent hosting of the Intra-African Trade Fair last September was cited as a major success, with contracts worth $48.3 billion signed, $23.6 billion of which went to Algeria, demonstrating its prominent role in continental integration.
The Ambassador specifically invited the Pakistani business community to look towards Algeria in line with Pakistan’s “look Africa and engaging Africa” policy, assuring them that the Algerian Embassy in Islamabad is committed to facilitating business visas (with around 600 business visas granted in the last three years) and encouraging participation in exhibitions.
The speech concluded on a high note, affirming that the two countries possess the political willingness, expertise, and economic potential to further boost their excellent and fruitful cooperation for a common, brighter future:
