IACCIA and Algerian Ambassador discuss boosting bilateral trade and infrastructure cooperation
New Delhi
The India and Arab Countries Chamber of Commerce, Industry and Agriculture (IACCIA) Acting Secretary General Dr. Waiel Awwad, paid a courtesy call on the newly designated Ambassador of Algeria to India, H.E. Mr. Abdenor Khelifi at the Embassy of Algeria in New Delhi. The meeting focused on strengthening bilateral relations between India and Algeria and fostering broader engagement with Arab nations.
During the meeting, both dignitaries discussed strategies to promote trade and investment, and outlined plans for upcoming trade events in Algeria. These initiatives aim to facilitate the Indian business delegations to explore investment opportunities across various sectors in Algeria.
India and Algeria have witnessed a growing commercial relationship in recent years, with trade engagements reaching a new level of dynamism. The bilateral trade for the financial year 2023-24 stood at US$ 1.73 billion, with Indian exports valued at US$ 848.16 million and imports at US$ 885.54 million. For the period April–February of 2024-25, trade reached US$ 1.6 billion. Indian exports were recorded at US$ 846.69 million, while imports stood at US$ 757.35 million—marking a trade balance in India’s favour.
Key Indian exports to Algeria include rice, pharmaceutical products, polyethylene terephthalate, granite, iron and steel, and boneless meat. On the other hand, major imports from Algeria comprise petroleum oils, liquefied natural gas (LNG), natural calcium phosphates, saturated methanol, and urea.
Several Indian companies have already established a strong presence in Algeria by undertaking significant infrastructure projects in partnership with the Algerian government, including the construction of housing developments, hospitals, and sports stadiums, reflecting the growing cooperation and mutual trust between the two nations.