On December 1, the Chinese government and the Algerian government signed the "Three-Year Plan for Cooperation in Key Areas (2022-2024) between the Government of the People’s Republic of China and the Government of the People’s Democratic Republic of Algeria".
The Cooperation Plan focuses on investment cooperation in key areas and is an important initiative to jointly promote the construction of the Belt and Road Initiative (BRI) between China and Algeria. The National Development and Reform Commission of China and the Ministry of Foreign Affairs and National Community Abroad of Algeria will establish a Steering Committee to jointly promote potential cooperation projects in six key areas, including transportation, energy and minerals, manufacturing and research and development, information technology, financial services and medical care. The two parties will promote the implementation of the Cooperation Plan in accordance with the principles of enterprises initiative, government guidance, market-based operation and mutual benefit. The two parties will encourage collaboration between enterprises and financial institutions of both countries during the research, implementation and operation phases of the above key partnership projects to continuously enhance friendly and cooperative relations between the two countries and promote mutual benefits and win-win development.