Russia-Algeria Business Forum: Joint Willingness to Foster Strategic Economic Partnership
ALGIERS-The participants in the Russia-Algeria Business Forum, held Tuesday in Algiers, emphasized the determination of businessmen from both countries to hasten multifaceted bilateral cooperation to achieve a deep strategic economic partnership that meets current challenges.
Organized by the Algerian Chamber of Commerce and Industry (CACI) at the Palace of Exhibitions Pins Maritimes under the slogan “Towards a Deep Strategic Partnership,” the Forum saw the participation of several Algerian and Russian businessmen representing several leading companies.
On this occasion, Russia’s Ambassador to Algeria, Alexey Solomatine, stated that “the two countries are bound by centuries-old relations based on mutual understanding and constant coordination.”
Recalling the importance of the Declaration of Deep Strategic Partnership between Algeria and Russia, signed during the visit of the President of the Republic, Abdelmadjid Tebboune, to Moscow in June 2023, he said that the current situation “requires more efforts for the implementation of this declaration and the contracts signed between the two parties.”
For his part, CACI President Kamel Hamenni emphasized the importance of the Forum in developing and strengthening long-term economic cooperation between Algeria and Russia, and establishing strategic partnerships that serve the interests of both countries.
Hamenni recalled that relations between the two countries have developed through cooperation and coordination at the highest levels, primarily since the visit of the President of the Republic, Abdelmadjid Tebboune, to Russia in June 2023, emphasizing the need to further enhance them.
He explained that Algeria is a promising market and a regional economic hub with numerous major development and investment projects, in which active participation by Russian companies is desired, especially in light of the new investment law.
According to him, the text provides significant incentives, legislative stability, and improved conditions for foreign investors, making Algeria an attractive destination for Russian businesses seeking opportunities in industry, infrastructure, technology, and more.
For his part, the President of the Russian Chamber of Commerce and Industry, Sergey Katyrin, stated that “bilateral economic and trade relations have developed over recent years in several fields, but still fall short of the existing potential and the level of the political and historical ties uniting the two countries.”
Speaking on this occasion, President of the Algerian Council for Economic Renewal (CREA), Kamel Moula, underlined the council’s commitment to support economic and commercial cooperation between Algeria and Russia through partnerships that serve the interests of both countries
Moula extended an invitation to representatives of Russian companies to participate in the implementation of projects with the Algerian side within the framework of a win-win partnership, stating that “the current international situation requires bilateral cooperation capable of building a strong economy in areas such as the pharmaceutical industry, agricultural fertilizers, and energy.
Rabah Fassih, Director of Promotion and Support for Economic Exchanges at the Ministry of Foreign Affairs, stated that “the bilateral visits and meetings reflect the political will to raise the level of relations between the two countries,” assuring that Algeria is ready to welcome Russian investors and to grant them the necessary facilities and guarantees.
The President of the Russia-Algeria Business Council, Ahmed Azimov, announced the annual organization of the forum between the two countries, stating that “Russia is ready to transfer its technology and increase its investments in Algeria to the highest level.”
