ALGERIA: Turkish firms to invest in clothing industry

Turkish firms are to invest US$2.5m in setting up two garment-making facilities in Algeria in partnership with local companies, following the conclusion of a co-operation agreement with the Algerian authorities, a source at Istanbul’s Chamber of Commerce (ICC) has revealed.

The agreement makes provision to set up facilities specialising in lingerie, hosiery and sportswear in Algeria’s Béjaia and Relizane prefectures. They will begin production in 2014.

Organised by the ICC, a delegation of around 50 Turkish businessmen from the clothing trade visited Algeria recently to meet with some of their Algerian counterparts.

There are plans to create a number of joint venture partnerships between Algerian and Turkish firms, with the former holding a 51% majority stake.

The aim is to develop the ‘Made in Algeria’ label and turn out products which are of a high quality and reasonably priced. the ICC source said.

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