Luxembourg Holds Economic Talks With Algeria, Tunisia

by Ulrika Lomas, Tax-News.com, Brussels

11 January 2011

Luxembourg’s Economy and Foreign Trade Minister Jeannot Krecké is currently conducting an official visit to the North African countries of Algeria and Tunisia in a bid to establish closer bilateral relations in different areas of economic interest. The minister is being accompanied by a business delegation representing various sectors of the Luxembourg economy.

According to the Luxembourg administration, in an economic context marked by the global economic and financial crisis, Algeria has been able to maintain a good economic performance. The country has initiated major structural reforms in the interest of economic diversification in an endeavour to reduce its dependence on income from hydrocarbons, the administration adds.

In Algeria, Krecké and his accompanying delegation are due to hold meetings with Algeria’s Energy Minister Youcef Yousfi as well as with the country’s Minister for Trade Mustafa Benbada. In addition, Krecké is also due to meet both the Algerian Minister for Industry Mohamed Benmeradi and the Director General of the Chamber of Algerian Commerce and Industry Mohamed Chami.

During an economic seminar, Luxembourg’s official delegation is due to present the key characteristics of the country’s economy. The delegation will also meet with the national agency responsible for the development of investments.

On January 12, Jeannot Krecké aims to visit Tunisia in a bid to strengthen bilateral cooperation in areas already covered by Luxembourg’s Prime Minister Jean-Claude Juncker during an official two-day visit to the country, which took place at the end of November last year.

In its statement, Luxembourg’s administration underlines the fact that the favourable macro-economic environment of Tunisia, combined with a highly skilled workforce, have served to ensure stable economic growth, allowing the country to successfully attract direct foreign investment in diverse sectors of activity. Tunisia has been able to integrate itself in the global economy in a constructive manner, benefiting from trade liberalization to modernize its private sector, the administration explains.

In Tunisia, meetings have been scheduled with the country’s Trade Minister Ridha Ben Mosba, with Tunisia’s Foreign Affairs Minister Kamel Morjane, with Industry Minister Afif Chelbi as well as with the Minister responsible for Communication Technologies Mohamed Naceur Ammar.

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