Libya has finalized a trade agreement with Algeria’s Madar Holding for the import of refined sugar worth $180 million, in a deal that underscores growing economic cooperation between the two North African neighbors.
The signing took place during the Intra-African Trade Fair, held on Monday at the Exhibition Palace in Algiers, where Algerian and African companies concluded contracts exceeding $300 million.
According to officials, the deal with Libya is among the largest announced at the event. It is expected to secure a stable supply of sugar to the Libyan market, where demand for essential commodities continues to rise amid efforts to stabilize the economy.
Libya also signed a second significant contract with Algeria’s Souakri Group, valued at $51 million, for the supply of cement over a one-year period. Deliveries will take place by both land and sea, reflecting a push to streamline trade flows and strengthen infrastructure ties.
Beyond Libya, Algeria’s Condor Group concluded six contracts worth a combined $80 million annually with companies from Côte d’Ivoire, Senegal, Egypt, Libya, Tunisia, and Mauritania, further expanding its African trade presence.
The agreements were signed on the sidelines of a workshop titled “Empowering African Entrepreneurs: Accelerating Infrastructure Development in Africa,” organized by the African Export-Import Bank (Afreximbank). The deals, officials said, align with Africa’s broader strategy of increasing intra-continental trade and reducing reliance on external markets.
Kamel Rezig, Algeria’s Minister of Foreign Trade and Export Promotion, hailed the trade fair as a platform for deepening economic integration across Africa. He said the contracts demonstrate Africa’s ability to pursue shared prosperity through cross-border trade and joint ventures.
