Trade and Investments:
Bilateral trade volume between Turkey and Algeria was realized as 3.78 billion dollars in 2010. Trade statistics between two countries are as follows:
Million Dollars
|
YEAR
|
EXPORT
|
IMPORT
|
BALANCE of TRADE
|
TRADE VOLUME
|
|
2005
|
807
|
1.694
|
- 887
|
2.501
|
|
2006
|
1.020
|
1.828
|
- 808
|
2.848
|
|
2007
|
1.231
|
2.108
|
- 877
|
3.339
|
|
2008
|
1.613
|
3.262
|
-1.648
|
4.875
|
|
2009
|
1.782
|
2.027
|
-245
|
3.809
|
|
2010
|
1.506
|
2.274
|
-768
|
3.780
|
Approximately 97% of Algeria’s export to Turkey is composed of energy sources including liquefied natural gas (LNG), liquefied petroleum gas (LPG), crude oil and natural gas. Turkey’s export, however, is composed of land transportation vehicles and equipments, iron and steel products, machine parts, textile and confection products, unknotted clothing products, electrical machine hardware, television and communication devices, cement, flaming gas, soap, non iron materials, grain and grain products, fruit and vegetables, carton paper, plastic products and margarine.
Algeria is Turkey’s one of the important trade partners in North Africa. Algeria, which imports half of her food demand, provides attractive business opportunities for Turkish Companies in food sector. In addition, Algeria has become an important market in recent years.
Bilateral Cooperation Mechanisms:
9th Meeting of the Joint Economic Commission was held in Algeria on March 10-11, 2010.
Turkish-Algerian Joint Business Council was held in Algeria on 13th January 2009.
Legal Framework:
Agreement on Economic, Industrial and Technical Cooperation (1983), Agreement on the Prevention of Double Taxation (1994) and Agreement on Prevention, Investigation and Combating of Customs Offences constitute the legal ground of economic relations between the two countries.