Algerian Ambassador to Lebanon Ahmed Bouziane said that there are 12 economic agreements that have been prepared between Lebanon and Algeria but they have not been signed yet.

"There are 12 agreements between the two sides that should be approved and signed in the near future," he said according to a statement released by Lebanon's Chamber of Commerce, Industry and Agriculture.

Bouziane's remarks came during his meeting along with an Algerian delegation at the chamber's headquarters in Beirut with Lebanese economic bodies.

Bouziane said that Algeria has numerous attractive investment opportunities.

"I am looking forward to improving the legal framework between the two countries in a bid to create a suitable environment for investors," he said.

Meanwhile, Mohamad Choucair, head of the Chamber of Commerce, Agriculture and Industry, said that the import/ export activities between Lebanon and Algeria should be exempt from custom fees.

"We should specify a list of 50 Lebanese products and 50 Algerian items and exempt them from customs fees," he said.

Wissam Ariss, head of the Lebanese Algerian Business Council, said that Lebanon's imports from Algeria amounted to 32 million U.S. dollars in 2017 while Lebanon's exports to Algeria stood at 25 million U.S. dollars in the same period.