ALGIERS, (KUNA) — The volume of US investments in Algeria will exceed eight billion US dollars this year, after having registered a 60-percent growth in 2004 compared to 2003, said the US Assistant Secretary of Commerce for Market Access and Compliance William Lash.

Speaking to Kuwait News Agency (KUNA) on the sidelines of the 38th International Fair of Algiers 2005, Lash said that banking reforms that the Algerian government has started implementing have encouraged US companies to invest in Algeria, adding that the economic atmosphere in the country is positive.

He went on to say that the US is interested in manufacturing and heavy industries of Algeria, noting the guarantees provided by the Algerian government to US investors.

Algeria is committed to amending its laws in accordance with the rules of the World Trade Organization (WTO) and the US is helping Algeria to this effect, Lash added.

Lash also commended the exhibition, which groups up to 1,000 local and foreign companies working in different sectors.