“For our part, we will strive to do our utmost to raise the relations of cooperation between our two countries to the highest levels,” affirmed Boughazi.

The top diplomat told the newspaper that the two countries share similar view on many political and economic issues, which he said was evident from the coordination between the two countries in international forums such as the Organization of the Petroleum Exporting Countries and OPEC+.

The ambassador also expressed his country’s support for the Kingdom’s bid to organize Expo 2030. “The number of agreements signed between the two countries exceeded 30,” Boughazi said.

He said the agreements cover several economic sectors and include the establishment of an investment company and joint business council.

“We will seek to raise economic cooperation to the highest levels,” he was quoted as saying.

“Our priority now is to work on intensifying mutual visits between investors and businessmen from both countries,” he added.

Talking about the current trade volume between the two countries, the diplomat said it does not reflect the true potential.

“A new investment law was issued that gives many advantages and provides many facilities for resident and non-resident investors,” revealed Boughazi, adding that conditions are very favorable for Saudi businessmen to invest in Algeria. “We will work with the Saudis to overcome difficulties and implement mature investment projects,” he said.

Boughazi stressed his country’s desire to cooperate with new Saudi initiatives in the fields of green economy and clean energy.