ALGERIA, 22nd November, 2016 (WAM)–H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Abdul Malik Salal, Prime Minister of Algeria, witnessed on Tuesday evening the signing ceremony of a number of memoranda of understanding (MoUs) between the UAE and the Algerian People’s Democratic Republic, on various fields.

The two parties signed MoU between the Central Bank of the UAE and the Algerian Central Bank. Rashid Mubarak Al Mansouri, Governor of the Central Bank of the UAE signed the MoU.

They also signed MoU on cooperation between the Abu Dhabi Chamber of Commerce and Industry and the Algerian Chamber of Industry and Commerce. It was signed by Mohammed Thani Al Rumaithi, President of the Federation of Chambers of Commerce and Industry and Mohammed Eid bin Omar, Chairman of the Algerian Chamber.

Another MoU was signed between the two countries to establish a joint company for the manufacture and maintenance of the Mercedes Benz brand vehicles. It was signed by Mohammed Al Muhairi, CEO of Aabar.

The two sides also signed a MoU between Al Ain Farms Corporation and Agro Dev Algerian Company. It was signed by Mohammed Al Suwaidi, Director of the Abu Dhabi Fund for Development and Jameela Akhanash, Agro Dev Company Director.

An agreement was signed between the Cepsa and Sonatrach Companies. Pedro Miro CEO of Cepsa and Amine Mazouzi, CEO of Algeria’s Sonatrach signed the agreement. The two parties also signed agreements in a number of areas of energy sector in Algeria.

A MoU was singed by Borealis Company and Sonatrach to set up a melamine plant between. It was signed by Mark Garrett, CEO of Borealis and Amine Mazouzi, CEO of Sonatrach.

Following the signing of agreements, Suhail bin Mohammed Faraj Al Mazrouei, Minister of Energy and Managing Director of the International Petroleum Investment Company “IPC”, said “The company plays a key role in pushing forward the agreements signed by the two companies, “Cepsa” and “Borealis “to ensure the success of these agreements, thanks to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan Abu Dhabi, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and the follow up of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Board of Directors of IPIC.”

He added through its membership in different companies and its deep know-how about the joint government initiatives and how to use them to the fullest, the IPIC will employ its expertise and wide international network to enhance the value added in various investments in all stages of the hydrocarbon value chain.

Al Mazrouei thanked the Algerian government for its effective role in making this possible, adding that he was looking forward to increasing cooperation between the two countries.

Sheikh Mansour and Abdul Malik Salal witnessed the signing of agreement between the Ministry of Climate Change and Environment and the Ministry of Agriculture and Rural Development of Algeria to set up a natural reserve . It was signed by Sultan Alwan, Assistant Deputy Minister of the UAE Ministry of Climate Change and Environment.

The Ministry of Economy and the Ministry of Industry and Mines of Algeria signed MoU. It was signed by the UAE Minister of Energy.

The two sides also witnessed the signing of a memorandum of understanding for cooperation between the UAE Federation of Chambers of Commerce and Industry, its Algerian counterpart.

The Abu Dhabi Fund for Development signed a MoU with Algerian Al Na’ma Hospital ostrich Algeria. Mohammed Al Suwaidi, Director General of the Fund signed the deal. The signing ceremony was attended by Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs; Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy; Mohammed bin Ahmed Al Bowardi Minister of State for Defence; Mubarak Rashid Al Mansouri, Governor of the Central Bank of the UAE, Faris bin Khalaf Al Mazrouei, Chairman of the General Authority for the Security of Ports and Border; Mohammed Fares Al Mazrouei, Assistant Foreign Minister for Security and Military Affairs; Mohammed Thani Murshid Al Rumaithi, President of the UAE Federation of Chambers of Commerce and Industry; Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development; and Ambassador Ahmed Ali Al Mil Al Zaabi, UAE Ambassador to the Republic of Algeria.

Earlier, Sheikh Mansour exchanged views on a number of topics on trade and investment with the chamber and businessmen, representatives of the private and public sectors of the Emirate of Abu Dhabi.

He stressed the importance of the role played by the businessmen in the consolidation of cooperation between the two countries in various investment sectors.

WAM/Majok