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Algeria calls on Iran for cooperation

Business Materials 5 October 2010 11:51 (UTC +04:00)

The Algerian ambassador to Tehran asked Iranian investors participating in a conference to help reconstruct his country's economy and trade.

IRINN quoted Soufiane Mimouni in the 5th Iran-Algeria Trade Opportunities Conference as saying that Iranian firms have a high capacity to transfer technology in various sectors to Algeria.

He said that due to the need for 2.5 million housing units in his countries within the next 10 years Iranian firms could cooperate in the construction or supply building material for the project.

Mimouni pointed out that foodstuff sector is another field Iranians could invest in.

On Sunday, addressing the conference, President of Trade Promotion Organization of Iran Babak Afqahi called for the expansion of bilateral ties in transportation, banking, tariffs, and other economic fields.

In 2007, 2008 and 2009, Iran's exports to Algeria amounted to $24 million, $30 million and $29 million respectively, he said.

Vehicles, gas-fueled equipments, car spare parts, dried fruits, pistachio, grains, home appliances and chemicals were among major products Iran annually exports to Algeria, Afqahi added.

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