Egypt and Algeria agreed to establish a direct maritime route between ports of Annaba and Alexandria, officials said Tuesday, a step aimed at streamlining trade flows and cargo movement between the two North African economies. The announcement came during preparatory ministerial meetings ahead of the ninth session of the Egypt-Algeria Joint Higher Committee in Cairo, co-chaired by Egypt's Minister of Planning and International Cooperation Rania Mashat and Algeria's Minister of Industry, Yahia Bachir. The talks reviewed two days of expert-level discussions and led to agreements on several cooperation documents covering economic, trade, investment, and cultural initiatives. Mashat highlighted the rising trade between the countries, noting a 20 per cent increase in 2024 to $1 billion, up from $872 million in 2023. She stressed the role of the Egyptian private sector in implementing infrastructure and development projects in Algeria, including energy, power, transport, and housing sectors. Algeria ranks 49th among foreign investors in Egypt, with $54.4 million invested across 112 companies as of mid-2024. Egyptian investments in Algeria since 2001 total $5.07 billion, spanning 62 projects and employing around 7,000 Egyptian workers. Key players include Elsewedy Electric, Arab Contractors, Petrojet, Hassan Allam, and Acrow Misr Bachir emphasised that ongoing dialogue between Algerian President Abdelmadjid Tebboune and Egyptian President Abdel Fattah El-Sisi is supporting the expansion of joint projects and partnerships, with expectations for trade and investment to continue growing, bolstered by Egyptian companies' ongoing operations in Algeria. Attribution: Amwal Al Ghad English
