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A new horizon for Algerian-Canadian economic relations is emerging. Relations which are characterized by a lasting, win-win partnership, which is not limited to a single field of activity. Economic cooperation and upcoming bilateral meetings were presented by Canadian diplomats, who are returning to the Algiers International Fair (FIA), scheduled for June 24 to 29.
The ambition and desire to redeploy economically in Algeria is clearly displayed by Canada, which is celebrating the 60e anniversary of the establishment of diplomatic relations with Algeria. An inventory of bilateral relations and the prospects which look promising were highlighted during a press conference jointly hosted, yesterday at the embassy headquarters in Algiers, by the Canadian Ambassador to Algeria, Michael Callan, the political advisor, Bruno Hamel, and the commercial advisor, Christine Colevray.
The “real and strong” interest in investing in Algeria was expressed by the ambassador, who pointed out the multiple opportunities offered by the country but also the new legal framework governing investment, which is able to encourage investments .
The sectors of interest are diverse and are not limited to a specific sector, according to the diplomat, who points out the presence of more than 100 Canadian companies in Algeria, which operate in several sectors of activity, ranging from food products to aeronautics. “Algeria presents significant business opportunities for Canada in the sectors of infrastructure and consulting engineering services, education, aerospace, information and communications technologies, sciences of life, energy, agriculture and also in the mining sector”, affirmed Michael Callan, pointing out the strong cultural and academic links between the two countries, including several inter-university agreements at the level of research and Education.
The ambassador, who highlighted Algeria’s role and positions on the international level, notably the peaceful resolution of conflicts, said he was convinced that, given the business opportunities that exist, “we have the obligation to move forward together”, especially since the will is there. And it is not only trade that interests Canadian companies, but the establishment of a lasting, win-win partnership. Canada will also, according to the ambassador, share its knowledge and experience in various areas, such as the fight against forest fires, knowing that both countries are threatened by fire risk.
Canada therefore says it is ready to share its experience in this area, not only technological advances but also through training and the governance systems adopted by the country. Mr. Callan cited, in this sense, the possibility of transforming the country’s air fleet and using it to put out fires. The diplomat, who pointed out a long waiting list for the purchase of canadairs, indicated that Canadian companies will exhibit their know-how and the solutions developed for fighting fires during the FIA 2024. The sector of agriculture is also of interest to Canada. Proof of this is the registration of an investment project at the AAPI level, according to Ms. Colevray, commercial advisor at the embassy. She says she is in contact with the agency to collect information for two Canadian companies.
Canada returns to the FIA
The ambassador also returned to the current economic relations between the two countries, affirming that they “maintain dynamic and diversified commercial relations, focused mainly on trade and investments”. With this in mind, he reported a “substantial growth” in trade, which in 2023 reached more than 1.5 billion Canadian dollars (almost 150 billion dinars). “Algeria is Africa’s leading market for Canadian exports and Canada’s fourth bilateral merchandise trading partner in Africa,” he said.
Algerian products can also find a place on the Canadian market, according to the economic advisor at the embassy, citing in particular traditional agricultural products (dates and olive oil). We are especially counting on the participation of Canadian companies in FIA 2024 to give a boost to the bilateral economic relationship.
Indeed, after an absence, Canada is participating in this important economic event with 12 companies and institutions, including Adroit Overseas enterprises Ltd, R and W Aerogroup, SEI Industries, Logient, the government of Quebec. In addition to exhibiting their know-how, these companies will explore partnership opportunities. “These companies have shown a certain interest in the Algerian market, where some intend to strengthen their presence and others to establish themselves permanently,” it was indicated.
A CREA delegation to Canada in July
Another event is expected to play a role in consolidating economic relations. This is the economic mission of the Algerian Economic Renewal Council (CREA), which will travel to Canada at the beginning of July. The Canadian ambassador thus expressed his wish to see this visit lead to concrete actions. “I am personally ensuring, as well as my team, that this new momentum is translated into concrete actions,” assured Mr. Callan, who underlined the impact of the visit, at the end of April, of the delegation parliamentary, led by the Speaker of the House of Commons, Greg Fergus. “The meeting of this delegation with the President of the Republic Abdelmadjid Tebboune gave another impetus to an already mutually beneficial and serene relationship,” he said, noting the meeting with other Algerian officials. The component of this economic mission has however not been communicated, much less the sectors which will be represented.
Record level of visa applications
The Canadian ambassador to Algeria also mentioned the strong presence of the Algerian community in Canada, which is estimated at more than 130,000. A community which is strongly involved, according to the diplomat, who underlined its role in the creation of a knowledge base of the two markets. The ambassador especially reported a record level of visa applications during the year 2023. Thus, 35,000 visitor visas, 9,000 study visas, 3,000 work visas and 700 visas for permanent residence were issued to Algerians during this period. .