ALGIERS - The Minister of Energy and Mines, Mohamed Arkab, received, on Thursday in Algiers, Thailand’s Deputy Minister of Foreign Affairs, Vijavat Isarabhakdi, with whom he discussed business opportunities and future investment prospects in Algeria, said a press release from the ministry.
During this meeting, which took place at the headquarters of the ministry, “the two parties reviewed the relations of cooperation and partnership between the two countries in the field of energy and mines as well as the opportunities for business and future prospects for investment in Algeria,” added the same source.
Both parties expressed their “satisfaction for the excellence of the existing partnership between Sonatrach and Thailand’s public company for the exploration and production of Petroleum (PTTEP)”, noted the same communiqué.
In this perspective, Mr. Arkab presented the content and objectives of the new law on hydrocarbons for the revival of hydrocarbon research and exploitation activities in Algeria, inviting Thailand’s companies to participate in the next calls for offers and tenders to benefit from the advantages offered by this new law.
The two parties also discussed opportunities for cooperation and investment in the mining sector in Algeria, including exploration, mapping, exploitation and production of mineral substances.
To this end, Mohamed Arkab “called, once again, for the participation of Thailand’s mining companies in the development of new mining projects in Algeria, with a sharing of experience and know-how”, further explained the press release.
For his part, Mr. Vijavat Isarabhakdi, expressed “his satisfaction for the quality of relations between Thailand and Algeria”, declaring “the interest shown by the companies of his country to participate in investment projects in Algeria, particularly in the energy sector and mines,” the statement concluded.
On another level, the Minister of Foreign Affairs and National Community Abroad, Ramtane Lamamra, received the Deputy Minister of Foreign Affairs of Thailand, Vijavat Isarabhakd. Both sides signed a memorandum of understanding on political consultations between the two countries, said a statement from the ministry.
Welcoming “the importance of this agreement in strengthening the legal framework of bilateral relations and the intensification of consultation and coordination between the two countries at bilateral and multilateral levels”, Mr. Lamamra insisted on “the imperative of double efforts to expand cooperation between Algeria and Thailand to other areas, such as; agriculture, energy and tourism,” added the same statement.
For his part, the Deputy Minister of Foreign Affairs of Thailand welcomed the level of political relations between the two countries, expressing “his satisfaction with the very positive results of his visit to Algeria which will open up promising prospects for relations between both countries,” the source concluded.
Earlier in July, the Minister of Energy and Mines, Mohamed Arkab, discussed with the CEO of Thailand’s National Oil Company (PTT Exploration and Production), Montri Rwanjikwal, the relations of cooperation and partnership in the oil field. Both sides reviewed the status of cooperation and partnership relations between Sonatrach and Thailand’s Exploration and Production Complex, dubbing them as “excellent”.
During the presentation of the development plan for the sector, the Minister of Energy and Mines called on Thailand’s companies to invest more in the field of hydrocarbons and to forge mutually beneficial partnerships.
Mr. Rwanjikwal, for his part, said he was satisfied with the quality of relations between both firms, expressing his strong interest in continuing to invest in Algeria.
He stressed that Sonatrach “is a reliable partner, especially in the upstream oil field”.
Thailand and Algeria establised diplomatic relations in 1975. Both countries have maintained good relations and exchanged support in international fora. Algeria is one of the important sources of energy of Thailand and also ranks as Thailand’s 6th trading partner in African region.
