- Councils will facilitate exchange visits of small enterprises owners in both countries
- Youth-driven growth of small enterprises thrust of Algeria-Egypt cooperation, says minister Dhiyafat
Algeria and Egypt are looking at the possibility of establishing business councils for small enterprises in the two countries and at the same time working for the advancement of the youth, Nassim Dhiyafat, Algerian minister of state for small enterprises has said.
These councils will facilitate owners of small enterprises in both countries to exchange visits and create opportunities for cooperative ventures, said Dhiyafat who also holds the portfolio of Emerging Institutions and the Algerian Knowledge-Economy. He promised to facilitate entry visas for Egyptian youth.
Dhiyafat, said he and the Egyptian ambassador to Algeria, Ayman Mosharafa, exchanged information about small enterprises in the two countries at a meeting.
The minister and the ambassador found there is “great convergence” between the two countries in the field of small enterprises and discussed the efforts their countries were putting into creating institutions for economic growth.
“There will be real cooperation that will benefit the Egyptian and Algerian youth,” he continued.
According to the Egyptian Commercial Service, the trade exchange between Egypt and Algeria hit $938m last year.
Dhiyafat said 97% of economic activity in Algeria is based on small and emerging enterprises, each comprising not more than 10 people, and whose capital does not exceed 20 million Algerian dinars (1 US dollar = about 130 dinars). These enterprises work in all sectors.
“Young people are the ones who will build the two countries and we have great confidence in them and we will help them to the best of our capabilities, especially as I am a young minister and I am well aware of their ambitions,” he added.
He said the young people in the two countries can cooperate in agriculture, livestock raising, food industries and manufacturing industries, which will contribute to increasing exports between the two countries.
“Our role is to support small enterprises and youth to open common markets and increase cooperation between the two countries, especially as Algeria attaches special importance to cooperation with Egypt in all fields,” he said.
Dhiyafat noted that his ministry is a new one and President Abdul Majeed Taboun ensured that it is headed by a young minister because small and emerging enterprises are usually owned by young people.
The Algerian minister added that he would invite Nevin Gamea, Egyptian Minister of Trade and Industry, to visit Algeria, and he would also visit Cairo soon to hold joint meetings and work toward achieving the desired goals.
He called for activating cooperation between the Algerian Agency to support small and emerging enterprises and the Small and Medium Enterprises Development Agency in Egypt.