Turkey's PM announces trade volume target with Algeria as $10bn

Turkey’s Prime Minister Recep Tayyip Erdogan said, “I hope we will increase our trade and investments with Algeria to $10 billion mutually.” Speaking at the opening ceremony of Tosyali Holding's iron and steel plant in Algerian town of Oran on the Mediterranean coast, Erdogan said, the bilateral trade volume had reached $5 billion, and Turkish businessmen had 200 projects in Algeria approximately, on Wednesday. Erdogan said, “I hope we will increase bilateral trade and investments to $10 billion mutually.” Reminding that every year more than 100,000 Algerians visited Turkey, Erdogan called on both nations to visit each others’ country more to improve cultural and economic ties. Erdogan also wished Algerian President Abdal Aziz Buteflika, who is currently hospitalized, a quick recovery. Following the ceremony, Erdogan left for Tunisia. Tosyali Holding's iron and steel plant, completed in 19 months, cost $750 million. With a capacity of 1.250 millions of liquid steel production and $1 billion of annual turnover target, the plant is the largest one in the region.