Remarks
Charles H. Rivkin
Assistant Secretary, Bureau of Economic and Business Affairs
Washington, DC
October 29, 2014
Thank you, Mr. Ambassador.
Monsieur le Ministre, et vos collègues et ministers du Gouvernement
algérien … Monsieur L’Ambassadeur …. Les capitaines d’industries et les
dirigeants d’entreprise …. Mesdames and messieurs ….Bienvenue et
As-Salaam-Alaikum.
I’d like to welcome Algerian Minister Abdeslam Bouchouareb, his
delegation of governmental and business leaders from Algeria, and
Ambassador Abdallah Baali to Washington.
I’d also like to welcome our guests from the U.S. Government and
business representatives. And many thanks to the U.S.-Algeria Business
Council for organizing the Roadshow.
It’s always exciting to me to speak with business people. I spent 20
years as a businessman in the entertainment industry. After that, I was
honored to represent my country as an Ambassador of the United States.
And I learned that being a businessman and being a diplomat were not so
very different.
As a businessman, I learned the importance of not only measuring
profitability in terms of dollars and cents; it was equally important to
measure value in the difference my companies could make in people’s
lives – or the changes in someone’s understanding about the world.
As Ambassador, a key element of success was understanding how to
listen; how to find common ground between countries, to maximize the
effectiveness of our policies. For me, it was important for success to
flow in many directions.
So when Secretary Kerry asked me to join his economic team and help
lead what he called his “shared prosperity agenda,” I knew exactly what
he had in mind.
I lead a Bureau that works every day to do precisely that. So I am
delighted to have this opportunity to speak to you about ways our
business ties can change futures, and deliver jobs to the people of both
our nations.
Some may ask: What are the opportunities in Algeria? The answer is
simple. As we meet, Algeria is at a key moment in its history.
It is evolving from a country rich in oil resources – to a country
that recognizes the importance of moving away from dependence on fossil
fuels.
It understands that to become a prosperous nation, it must evolve
towards a more diversified and sustainable economy. And that is good
news for both the Algerian people and the U.S. firms prepared to become
partners in that future.
The signs are promising. President Abdelaziz Bouteflika and his
government have committed to building the country’s infrastructure, and
bringing reforms that can spur job creation for Algerians and expand
Algeria’s trade and investment.
As we speak, foreign investors, the Algerian business community, and
the U.S. Embassy in Algiers are engaging the Algerian government on ways
to improve the investment environment and attract more investment to
Algeria.
We also recognize there is a long road still ahead, if Algeria is to realize its enormous potential.
Many U.S. investors and businesses with interests in Algeria have
identified challenges that they continue to face. And forums like this
provide an excellent platform to discuss them forthrightly and ask the
important but sometimes difficult questions.
For example, the regulatory environment – according to many
businesses and investors – is often opaque, which may create the
perception of commercial risk for foreign investors.
Decision-making can be slow and there are often barriers to trade.
Another challenge is Algeria’s 51/49 rule, which prohibits foreign companies from having a majority ownership stake.
But as I look around me, I see Algeria’s political and economic
leadership. I see representatives of some of Algeria’s largest
agricultural, health care, hydrocarbon, construction, and manufacturing
companies.
And on the American side, I see many of the companies with interests
in Algeria, including senior management from GE, Anadarko, Varian, and
AGCO.
You are precisely the right people to address these challenges in granular and tangible ways.
One major question to address would be Algeria’s accession to the
World Trade Organization. We recognize that accession is a challenging
process. But we strongly encourage Algeria to work through the many
issues and make economic reforms in line with WTO obligations.
We are encouraged by the progress we see.
Alberto d’Alotto, president of the working group in charge of
Algeria’s accession to the WTO, recently visited Algiers and had
fruitful discussions with several ministers.
And it’s clear that your government fully recognizes the importance of
Algeria’s WTO accession to jobs and economic diversification.
WTO accession will not only create greater trade between our
countries, it will send a strong signal to investors that Algeria is
committed to a rules-based trading system.
That certainty will encourage them to build business and support
projects that will create employment opportunities for young Algerians.
This will support and build on other important successes – like
Algeria’s decision to sign a Memorandum of Understanding with the U.S.
Pharmaceutical Research and Manufacturers Association earlier this year.
That’s a promising step to building a vital economic partnership.
I look forward to hearing many more success stories like Boeing’s
recent contract with Air Algérie to provide eight 737-800 aircraft, a
contract estimated to be worth $724 million … or General Electric’s
three contracts – worth almost $3 billion – with SPE, which would create
nine power plants to meet Algeria’s power sector needs.
With our shared interest in further improving the business climate,
we can realize more contracts like GE’s with the Government of Algeria
to construct five new hospitals that will strengthen its healthcare
sector … or Varian Medical Systems’ $51 million contract with the
Algerian Ministry of Health, which will help build the country’s cancer
treatment infrastructure with three medical linear accelerators.
Algeria has a history that goes back longer than the United States.
But the future stretches even longer in front of us – and the book is
not yet written.
As long as the people of our two nations have aspirations and hopes for economic opportunity, it is our duty to honor them.
These and other business initiatives are some of the ways that we can
write our own stories, create our own prosperity, and change the
trajectories of our future.
All we need is the political will to support business-friendly
environments, to continue the good faith that has endured between our
two countries, and our collective imaginations. The seeds for all those
things can start right here, and right now, in Washington.
Thank you.
