South Africa and Algeria strengthen trade relations amid economic shifts

JOHANNESBURG - Trade and Industry Minister Parks Tau said South Africa and Algeria are making progress on fresh trade relations as the continent looks inward for economic opportunities.
 
Tau is in Algeria for the fourth Intra-African Trade Fair, where he is leading a delegation of 30 South African businesses showcasing their products and services. 

Part of the visit includes talks with Algeria’s automotive sector amid a scramble for new markets following UDS President Donald Trump’s punitive tariffs on all trade partners.

The meeting between South African and Algerian trade officials focused on implementing the Memorandum of Understanding (MOU) on economic cooperation. Both sides agreed to establish trade routes to improve bilateral trade and market access for goods and services.
 
The MOU, signed in December last year during the bi-national commission between Algeria and South Africa, covers cooperation in trade, industrial development and infrastructure.
 
Tau said a proposal was also tabled for a joint trade and investment committee, which will act as a platform for the two countries to meet regularly and facilitate trade and investment.
 
The two nations further agreed to enhance cooperation across multiple sectors, including oil and gas, automotive, infrastructure development, pharmaceuticals, manufacturing, aviation, agriculture and agro-processing.