Sarkozy eyes 5 billion dollars in deals during Algeria visit

Dec 2, 2007, 14:18 GMT

Algiers - French President Nicolas Sarkozy said in interview remarks Sunday he aimed to conclude economic deals worth 5 billion dollars during his upcoming visit to Algeria.

In remarks reported by the Algerian news agency APS, the French president said the state energy concern Gaz de France was planning to invest 1 billion dollars, while the oil group Total planned 1.5 billion dollars' worth of investments in Algeria.

In addition, during his three-day visit starting Monday the two sides would take up discussion of a programme of cooperation between medium-sized companies, Sarkozy said.

A further issue during his visit is expected to be his proposal for a Mediterranean union with concrete projects in transportation, energy, water supplies and eduction, Sarkozy told APS.

But such a union would not replace the cooperation now in place between the European Union and North Africa, he said.

Sarkozy is to be accompanied by the heads of some 120 French companies on the visit to Algeria, as well as by several cabinet members including Foreign Minister Bernard Kouchner and Justice Minister Radhida Dati, who is of Algerian-Moroccan ethnic background.

Casting a shadow on the visit ahead of time were anti-Semitic remarks in an interview by Minister for War Veterans Mohammed Cherif Abbes, who last week said Sarkozy owed his electoral victory to Israel and 'the Jewish lobby.

In the furor that followed, Algerian President Abdelaziz Bouteflika publicly rebuked his minister and telephoned Sarkozy to assure him that he was welcome in Algeria. Sarkozy then said he would be travelling to Algeria 'as a friend.'