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Algeria, Nigeria to ratify transnational expressway to grow trade
Indication has emerged that all is set for the take off of the planned 9022-km Trans-Sahara Highway Algeria and several African markets, including Nigeria. This is coming on the heels of the hint that issues surrounding the matter will feature at the transcontinental forum taking place in Algiers early next month.
The event, which is supported by the Algerian government and the Algerian Business Leaders Forum (FCE), will bring together more than 2000 industry and public sector representatives from across the continent, including several government leaders.
Aliko Dangote, PDG Dangote Group, Nigeria will be among the speakers at the conference.
Brahim Benabdeslem, vice-president of the FCE, said the forum would provide an important platform for collective sharing and co-development. He also welcomed the meeting’s location.
“Algeria wishes to play a central role in building adhesion among countries across the continent and will strive to push the African continent toward being a global economic powerhouse,” he said.
Algeria has already begun the process of diversifying its economy and moving up the value chain, in a bid to reduce the country’s financial dependence on oil and gas.
The country has also managed to counter a drop in revenues by rationalising its fiscal and monetary policies, while maintaining its plans for investing in both infrastructure, and social and human development.
The country’s long-term strategy for broadening the economic base includes driving up investment from countries throughout sub-Saharan Africa and building on trade partnerships.
Africa’s future will be, in part, determined by the pace of economic and social development within each individual country, including the rate of technological progress.
The African Investments and Business Forum will provide business leaders and public sector representatives with an unparalleled opportunity to explore and reflect on the key issues currently affecting economic development throughout the continent.
It will also provide a platform for participants to discuss the African Union’s strategies for boosting intra-African trade.