An Algeria-Togo council will be established to boost economic cooperation between the two countries

Investments

Wednesday, 10 March 2021 12:02

An Algeria-Togo council will be established to boost economic cooperation between the two countries

(Togo First) - Robert Dussey, Togolese minister of foreign affairs, and his Algerian counterpart, Sabri Boukadoum, met last Sunday. On this occasion, the two officials announced the creation of an Algeria-Togo business council to consolidate trade between their countries.

In detail, the council which will be set up by the Togolese and Algerian chambers of commerce will help facilitate concertation and cooperation between business actors from both nations. For Togo, this will be a platform to present investment opportunities its national development plan holds for Algerian investors.

“The Togolese government,” Dussey said, “wishes to tap into Algeria’s expertise in terms of agroindustrial processing as well as regarding the development of the Adétikopé Industrial Platform (PIA).”

According to data available (UN Comtrade), exports from Togo to Algeria stand below CFA200 million, which is very low, while imports stand around a billion CFA.

The West African country’s desire to boost trade with its Maghreb partner is partly attributable to the African Continental Free Trade Area (AfCFTA). The latter should indeed ease trade among African countries, in a context where Algeria is one of those countries that trade the least with its neighbors across the continent.

Klétus Situ

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