Algeria and Italy Sign $455 Million Agricultural Deal
Algeria and Italy have recently signed a significant agricultural project deal worth 420 million euros ($455 million). The agreement, considered Italy’s largest agricultural investment in the southern Mediterranean region, will cover 36,000 hectares (89,000 acres) in Algeria’s Timimoune province. The project aims to cultivate wheat, lentils, beans, and other food crops with the goal of boosting Algeria’s non-hydrocarbon exports. Additionally, the initiative is expected to create 6,700 job opportunities in the region.
This partnership comes on the heels of Algeria’s $3.5 billion agreement with Qatar’s leading dairy producer, Baladna, to establish a large-scale cow-breeding facility for powdered milk production. The country’s strategy includes expanding production areas in the desert south to 500,000 hectares, showcasing its commitment to agricultural development.
The agricultural project aligns with Italian Prime Minister Giorgia Meloni’s “Mattei Plan,” named after Enrico Mattei, the founder of Italian energy company Eni. The plan aims to reduce irregular migration from Africa by investing in the continent’s economic growth. Meloni emphasized the importance of fostering “non-predatory” cooperation between Europe and Africa through a 5.5 billion euro program that includes investments in energy, agriculture, water, health, and education across African nations.
Italy has also inked similar agreements with other African countries like Tunisia and Libya as part of the broader initiative. These collaborations underscore the mutual benefits of international partnerships in driving sustainable development and economic prosperity.
The signing of the agricultural deal signifies a significant milestone in Algeria-Italy relations, highlighting the potential for further cooperation in various sectors. Both countries stand to gain from this strategic alliance, with Algeria benefiting from increased agricultural productivity and job creation, while Italy strengthens its presence in the Mediterranean region.
The project’s focus on enhancing agricultural output aligns with Algeria’s efforts to diversify its economy and reduce reliance on hydrocarbon exports. By expanding cultivation areas and introducing modern farming techniques, the country aims to boost food security and promote self-sufficiency in agricultural production.
Furthermore, the collaboration underscores the importance of sustainable development and responsible investment practices in fostering long-term growth. Through targeted initiatives like the Mattei Plan, Italy seeks to support African nations in harnessing their natural resources and unlocking their economic potential.
As the global community grapples with challenges such as climate change and food insecurity, initiatives like the Algeria-Italy agricultural project offer a beacon of hope for sustainable development. By leveraging each other’s strengths and expertise, countries can address pressing issues and build a more resilient future for generations to come.
In conclusion, the recent agreement between Algeria and Italy marks a significant step towards strengthening bilateral ties and promoting economic cooperation. The agricultural project not only holds immense potential for both nations but also serves as a model for sustainable development partnerships in the Mediterranean region and beyond.