Global Greece explores one country's commercial presence in Greece and investment and trade between the two countries. Each month ELKE e-News presents an overview of a different country. This month's article was prepared in cooperation with Mr. Abdelkrim Yamani, Plenipotentiary Minister of the Algerian Embassy in Greece.
The two countries have always maintained high level relations. Political dialogue takes place regularly, on a bilateral and regional level (Barcelona Process, Euromed, Mediterranean Forum, Security and Peace Partnership in the Mediterranean within the framework of NATO), as well as at an international level (UN and other organisations). Representatives of the two countries thus meet at different levels on a regular basis.
On the margin of the debate on the situation in the Middle East, following the initiative of the Hellenic Presidency of the UN Security Council, in September 2006, Minister Dora Bakoyannis met with her Algerian counterpart, Mr. Mohamed Bedjaoui, then Minister of State, Minister for Foreign Affairs, who congratulated her on Greece’s contribution in favour of a just and lasting solution to the Middle East conflict.
Furthermore, a delegation led by the Secretary General of the Algerian Ministry of Foreign Affairs recently took part in the 14th Mediterranean Forum Foreign Ministers Conference, which was held in Rethymnon in June 2007.
In addition to that, the Hellenic and Algerian Chiefs of Staff have had a series of very productive meetings.
As far as the economic and commercial field is concerned, Algeria and Greece have developed strong and diversified relations.
Algeria is Greece’s second natural gas supplier, providing almost 25% of the latter’s imports. In the late 1980’s the two countries signed a contract for the supply of 12 billion cubic meters for a duration of 21 years. The first natural gas delivery took place in 1997 (and the quantities to be delivered are estimated on average at 900 million cubic meters per year).
In this strategic sector, there are great cooperation opportunities in the future, since Greece is planning to play a capital role in the region of Southeastern Europe.
The trade sector occupies an important place in the relations of the two countries as well. Algeria is Greece’s fourth trade partner in the Arab world. According to statistics for the years 2005 and 2006, the total amount of trade exchanges respectively reached 165.3 and 410.2 million US dollars.
In 2006, Greek exports towards Algeria made a significant leap, from 49.9 to 222.9 million US dollars. A considerable increase was noted in imports as well, from 115.4 to 187.2 million US dollars during the same year.
The list of products imported from Algeria includes hydrocarbons (natural gas and its derivatives), metalliferous and non-metalliferous ores, petroleum products and organic materials.
As far as Greek exports are concerned, we see a great variety of products: metallurgy, non-metalliferous products, tobacco, machinery, pharmaceutical products, cereals and their by-products, fertilisers and plastics in primary forms.
The two countries are in a period of economic growth. Algeria is actually experiencing a complete economic transformation. Significant steps have been taken, regarding investment and partnership options. In September 2005, the Trade Association Agreement with the European Union came into effect, providing the adequate framework for stronger and multiform relations.
The Hellenic Center for Investment (ELKE) and its Algerian counterpart, ANDI (Agence Nationale pour le Développement de l’Investissement) could contribute with their experience in order to encourage a rapprochement between economic partners of the two countries, so as to initiate mutually beneficial activities. A legal framework is underway. An agreement for the encouragement and the protection of investments has already been signed in February 2000, and it will be further strengthened by the signature of an agreement on non-double taxation.
There is a high potential for the development of economic and commercial relations between the two countries.
Finally, it should be noted that Greece regularly participates in the Algiers International Tourism Salon and that hundreds of Algerians have spent their holidays in the country during these last years. Algeria and Greece have taken part in respective cultural events in both countries, such as film festivals, book fairs and a variety of other cultural activities. | 
