Trade and Economy
 
India has been among the largest Asian partners of Algeria in 2014, with 815 million USD of exports and 1.305 million USD of imports.
 
Algeria exports to India mainly, “Energy and lubricants” that has contributed 98% of up to 801 million USD, including light oils, crude oil and liquefied natural gas.
Algeria also exports other non-hydrocarbon products, such as anhydrous ammonia, calcium phosphates, cork, leather and zinc.
 
Algeria imports from India are mainly cars, beef meat, agricultural tractors, telephones for cellular networks, drugs, milk, rice and fabrics.
 
Despite the fact that the economic relations between Algeria and India are below the potential of both the economies, they have continued to develop at different levels during the last ten years, where bilateral trade has shown significant growth, exchange of business visits have continuously increased and presence of Indian companies in Algeria has become more and more important.  
 
This is reflected by the visits to Algeria by delegations of businessmen and representatives of several industrial companies and groups operating in various business activities of the State of Gujarat, and representatives of EEPC India, respectively on September 2012 and January 2013.
 
These visits allowed the businessmen of both countries to hold discussions on potential projects of cooperation and partnership in the areas of oil and gas, pharmaceutical, port activity, textile and mechanical engineering and construction.
 
It is worthy to note that cooperation in the energy and mining sectors is the main interest for most Indian businessmen, in view of the availability of oil, natural gas and mining products in Algeria, and in order to promote cooperation in the hydrocarbon sector, including the supply of Algerian gas on a long term basis, the Indian Minister of Petroleum and Gas visited Algeria in April 2007.
 
Understanding that, in the future, India could become a major importer of LNG, rock phosphate, urea and di-ammonium phosphate from Algeria, due to growing needs of its agricultural and industrial activities, the heads of Algerian and Indian companies operating in these areas have continued to carry out visits in both countries in order to discuss and negotiate the supply of LNG and phosphate to India in the upcoming years.
 
The last visit recorded was paid by high level delegation from the Algerian Ministry of Energy and mines in June 2013, when Algerian delegates met with a dozen of heads of Indian companies and received concrete proposals for setting up partnership in this area.
 
With respect to the pharmaceutical industry, leading Indian industrial groups are looking for building relationship in trade as well as in partnerships. Indian pharmaceutical companies participate each year in various exhibitions and fairs organized in Algeria. It is worth noting that the pharmaceutical Indian company Hetero Drugs Pvt Ltd has signed a partnership agreement with the Algerian company Industries Médico-Chirurgicales (IMC) in December 2010 to set up a Joint-Venture of oncology medicines.
 
Several Indian companies, operating in the sectors of finance, agriculture, construction, energy and mining, are already present in the Algerian market, either in the context of business activity or participation in partnership activities. We can mention among them International Tractors Ltd “SONALIKA”, which has sat up in Algeria a local assembly facility of tractors ; the construction company Shapoorji Pallonji Pvt, which is executing many construction projects in many cities and Vijai Electricals Ltd, a manufacturing power transformers company, has been awarded last year a tender for supply of 300 transformers to Algeria.
 
It is also worth noting that a dozen of Indian companies of meat industry are supplying Algeria with frozen buffalo meat. Algeria is now the fourth international market for Indian meat industry.
 
Prospects To Foster Economic Ties
 
Indeed, if the business sphere has risen significantly, with overall volume of trade improved with overall volume of trade improved considerably, the terms of a comprehensive and mutually beneficial cooperation have to be redefined, leading to the impetus to update and expand the legal framework for this cooperation. 
 
It is in this sense, that the two parties held, after 12 years, the 9th Session of the Algeria-India Joint Commission in Algiers on 25-26 May 2015, which has been co-chaired by Algerian Minister of Transport and Minister of State for Commerce and Industry of India.
 
On that occasion, both parties have signed MoUs between Algerian Establishment Public de Television (EPTV) and Indian National Television DOORDARSHAN and between Algerian Radio (EPRS) and All India Radio (AIR) on Cooperation in the field of Broadcasting.
 
Always in the sense of further facilitating business and trade interactions, India has participated at the 48th Algerian International Fair on the invitation of the Government of Algeria, as “Guest of Honour”. More than 80 Indian companies operating in many fields were represented in this event.
 
Finally, it is worth mentioning the participation of Algeria in the 3rd India-Africa Forum Summit, held in New Delhi, from 26 to 29 October 2015. His Excellency Mr. Abdelaziz Bouteflika, President of Algeria was represented by Mr. Abdelkader MESSAHEL, Minister of Maghreb Affairs, African Union and League of Arab States. Mr. Messahel met with Minister of State for Petroleum and Natural Gas and discussed ways of putting up partnership in the field of Hydrocarbons.
 
Mr. Belaib Bakhti, Minister of Commerce represented Algeria in the Foreign Affairs Ministers’ Segment of IAFS. Prior to that, the latter has attended the 4th Meeting of India-Africa Trade Ministers, which took place on 21-23 October 2015.