Algeria, EU Seal 3 Cooperation Agreements Worth 74 Mln USD

Algeria on Tuesday signed three cooperation agreements, worth 58 million euros (74 million U.S. dollars), with the EU regarding transportation, culture and employment, official APS news agency reported.

The agreements were signed by Algeria’s Foreign Minister Mourad Medelci and visiting EU Foreign policy chief Catherine Ashton.

At the signing ceremony, Medelci said that the agreements ” carry great substance,” specifying that they are about protecting cultural heritage, boosting transportation and youth employment.

For her part, Ashton said the agreements “highlight the will of the EU to work closely with Algeria in a bid to strengthen bilateral cooperation between the two sides.”

Ashton, who arrived Tuesday in Algiers, is due to discuss with Algerian officials the crisis in Mali and the situation in the region.

According to figures issued in 2011 on EU’s official website, the bilateral trade between the EU and Algeria increased by 40 percent from 2007 to 2011, mainly driven by Algeria’s rising oil exports. Also, the North African nation was ranked as EU’s third largest energy provider in 2011.

Xinhuanet