India, Algeria talk about oil and fertilisers

India is in talks with resource-rich Algeria for signing term contracts for supply of oil and natural gas and is also looking at the possibility of joint ventures in manufacture of nitrogenous fertilisers for captive export to India.
The issues figured during discussions held between Minister of State for External Affairs E Ahamed and Algerian Prime Minister Abdelmalek Sellal and his Foreign Minister Mourad Medelci.
Algeria is the fourth largest producer of oil in Africa.
Ahamed had paid an official visit to Algeria from April 17018 at the invitation of Medelci.
His visit was to revive and renew the already strong bilateral relations on the occasion of the 50th Anniversary of Algeria's independence and 50 Years of Establishment of Diplomatic Relations between India and Algeria, an official statement said.

Algeria is the largest country in Africa and second largest economy with bilateral trade to the extent of USD 2.2 billion.

Exports to Algeria have increased manifold to reach USD 1. 1 billion in 2012.
During his interaction with both the leaders, Ahamed "discussed the possibility of signing term contracts for supply of oil and natural gas to India.
"Possibility of joint venture in manufacture of gas-based nitrogenous fertilizers for captive export to India was also discussed," the statement said.
A Road Map for further strengthening areas of bilateral cooperation including political, commercial and economic, human resource development, science and technology among others were also discussed.

The Algerian side requested India for furthering cooperation in the field of ICT and pharmaceuticals whereas Ahamed expressed interest in participating in the Presidential programme for development of infrastructure including social housing, roads and highways, railways and airports.
Possibility of more cultural cooperation and people to people contact including hosting Indian Food Festival and Films Festival in Algeria were also discussed.
Though both sides expressed satisfaction at the "excellent level" of bilateral relations in various sectors, it was felt that a large potential exists for further development of these relations for which the two sides would work together under the Road Map drawn for it.