Algerian delegates discuss investments and partnerships with American CEOs – The Arab American News.

DEARBORN — Algerian government officials and prominent CEO’s met with U.S. executives to promote business partnerships and investment between the two countries. The conference, held at The Henry Hotel on Tuesday, is described by organizers as the “largest delegation to ever visit the United States.”

The “Road Show”, organized in part by the U.S.-Algeria Business Council and the American Arab Chamber of Commerce, is part of a three-stop tour to Washington D.C., Detroit and San Francisco, introducing Algerian and U.S. investors to the countries’ markets and investment opportunities.

“There are lots of investment opportunities that currently exist in Algeria,” said Fay Beydoun, executive director of the American Arab Chamber of Commerce.

The Algerian government, considered relatively stable compared to those in neighboring countries, is seeking to invest $260 billion in major projects and purchases between now and 2019.

Beydoun said she has already seen multiple prospective deals and joint ventures happening as a result of the one-on-one meetings held at the conference.

Amara Charaf-Eddine, president of Algeria’s state-owned tobacco company, said he is attending the forum to introduce interested American companies to their market and discuss partnerships with U.S. agricultural businesses.

“Algeria is a peaceful country,” he said. “It has wonderful weather, abundant resources like natural gas, phosphate and mining and agriculture potential. These resources offer many opportunities for investment for any company.”

Loree Godfrey, operations manager at Gage Bilt, an American rivet manufacturing company, said the company has distribution networks in Morocco and neighboring countries; but is now studying the potential for distribution in Algeria because of its growing economy and abundant manufacturing and rail industries.

“You have to work hard at showcasing that even among the political climate, there’s a lot of business to be done and a lot of connections to be made,” she said.

Detroit Mayor Mike Duggan told the audience that not too long ago, it would have not been viable to hold such events to promote business partnerships in the city. However, Duggan said Detroit’s economic resurgence makes it possible for its businesses to make major international investments overseas again.

Zentar Mehdi, PR advisor for the minister of industry and mines in Algeria, said that for the past two to three years, there have been attempts to diversify investment between Algeria and the U.S. in the agricultural and industrial markets and gas production.

Mehdi added that Algeria’s economy is one of the strongest and fastest growing in the region. It also has a competitive edge among other countries, with the second largest automobile market in Africa.

“Algeria has an ambitious strategy to develop the automobile industry,” Mehdi said. “We have three big European contractors and are negotiating a partnership with Chinese, Korean and Japanese contractors.”

He added that the organization is currently pursuing Ford and GM to convince them to invest in Algeria.

According to Mehdi, Algeria also has the longest sea coast along the Mediterranean Sea, making it a prime location to use as a base for foreign companies exporting to Africa.

Kamel Djoudi, CEO of iMetal, an Algerian steel and metal manufacturing company, said he attended the conference to meet other companies who have mastered the technology and techniques to “double up” their own industry’s power and build partnerships.

“I’m happy to see Algerians here because it means they are focused on their national economy and that helps everybody,” said Mostansar Virk, CEO of EPIC Translations, an American corporate translation company. It helps the Algerians and Americans.”