Home Northern Africa Tunisia-Belgium deal to convert debt into development projects

Tunisia-Belgium deal to convert debt into development projects

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An agreement was signed by Director General for Europe, Nabil Ammar, and Belgium’s ambassador to Tunisia, Michel Tilemans to convert part of Tunisia’s debt to Belgium into development projects. Tunisian news agency TAP reported that the agreement will enhance bilateral cooperation by paving way for the conversion of more than €2.991 million ($3.33) of Tunisia’s debt to Belgium into development projects.

Governments of Tunisia and Belgium have been exploring ways to develop mechanisms for strengthening cooperation. There has been mutual concern about the unresolved debts from the Tunisian side. The Agreement is expected to help finance several projects across the country and contribute to the creation of jobs.

Tunisian government is also scouting for more investment and trade opportunities with South Africa. TAP has reported that Secretary of State for Foreign Affairs Sabri Bachtobji paid a visit to South Africa Aug.19-20 and the two sides pledged to strengthen their bilateral economic ties. Potential areas such as trade, technical co-operation, higher education and scientific research, communication technologies, agriculture and vocational training, were identified for co-operation according to a statement by the Foreign Ministry. Both the countries also agreed to enhance consultation between the two countries within the framework as non-permanent members of the Security Council starting next January as well as within the framework of their membership in the African Union and economic communities in the African continent.

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