After talks at the Economy Ministry, the two ministers signed a memorandum of understanding on cooperation in small and medium-size businesses, adding that agreements on the protection and stimulation of investments, avoidance of double taxation and trade had been agreed to a great extent.
Vukelic and Benbade agreed that trade between Croatia and Algeria was modest, amounting to less than eight million dollars, and advocated a direct exchange of information and cooperation among business people, so that Croatian products are not imported into Algeria through third companies from European countries.
Benbade said that he had invited Vukelic and Croatian business people to visit Algeria to discuss further cooperation.
The two ministers said that concrete areas of cooperation were the shipbuilding, food, oil and pharmaceutical industries, tourism, etc.
Minister Vukelic said that the two sides were negotiating the overhaul of Algerian ships in the Croatian shipyard Kraljevica, and that there was a possibility for Croatian shipyards to join a major Algerian project of construction of fishing ships.
Algeria is a major producer of oil and gas, and the two ministers underlined the significant cooperation potential in the petrochemical industry.
Minister Vukelic also mentioned the possibility of cooperation in the construction of roads and apartment buildings in Algeria, the possibility of export of construction material, as well as joint investments in plants for the production of construction material in Algeria.