Algeria seeks partnership with South Korea to diversify its economy

South Korea may become an important partner of Algeria to help realize the diversification of its economy, said Wednesday the Algerian Minister of Foreign Affairs Mourad Medelci, quoted by the Algerian agency APS.

•     Seoul has the means and determination that allow Algeria to realize the diversification of the economy, said Medelci at the end of an interview with Vice Minister of South Korean Economy Kim Young Hak.
  
      Mr. Kim Young Hak makes a visit of several days in Algeria with a delegation comprising 70 businessmen.
  
      The two countries should move towards a technological partnership in particular in the sectors of electronics, engineering and petrochemicals, said for his part the Algerian Minister of Industry and Investment Promotion Hamid Temmar, referring to the Algeria will to create a true automobile industry.
  
      “We are not here to make quick and easy gains but for relations based on mutual benefits of technology transfer in areas that South Korea controls,” said Mr. Kim.
  
      The private Algerian CEVITAL and Samsung have launched in late 2008 to build a manufacturing facility of the South Korean brand in Setif (300 km east of Algiers).
  
      At the same time, Naftec subsidiary refinery of the Algerian oil group Sonatrach, and the consortium of South Korean Hyundai Engineering and Construction had signed a contract for the rehabilitation of a refinery in Arzew near Oran (western Algeria).
  
     Ennaharonline/ M. O.