Algeria and Russia are exploring deeper industrial collaboration, signaling a new phase of economic partnership between the two nations. A high-level delegation from the Russian business association, “Business Russia,” led by its president Alexey Evgenievich Repik, recently met with Algeria’s Minister of Industry, Yahia Bachir, to discuss potential joint ventures and strategic investments. The meeting, also attended by Kamal Moula, head of the Algerian Economic Renewal Council (CREA), and representatives from major Algerian public groups, focused on identifying mutually beneficial opportunities across key industrial sectors.
The discussions centered on implementing joint investment projects in strategically important industries. Specifically, the two sides explored partnerships in the chemical, mechanical, manufacturing, and iron and steel sectors, all within a framework of mutually beneficial collaboration. Minister Bachir emphasized Algeria’s commitment to fostering productive and sustainable partnerships based on reciprocity. He highlighted the significant economic reforms underway in Algeria, designed to create a more attractive investment climate that supports technology transfer, the development of a robust industrial base, and the creation of sustainable added value.
Alexey Evgenievich Repik, president of “Business Russia,” conveyed the strong interest of Russian companies in establishing effective industrial partnerships and investment projects in Algeria. These ventures, he stated, would contribute significantly to Algeria’s industrial development and broaden the scope of cooperation between the two countries. CREA President Kamal Moula reiterated the council’s dedication to strengthening economic and investment ties between Algerian and Russian businesses, ultimately benefiting the Algerian economy.
The meeting concluded with both parties underscoring the necessity of strengthening industrial cooperation and expanding economic partnerships between Algeria and the Russian Federation. This collaboration reflects the deep-rooted historical relations between the two countries. The enhanced partnership aims to accelerate Algeria’s industrial transformation and unlock promising prospects for building a sustainable strategic alliance based on mutual trust and shared benefits. The focus remains on creating win-win scenarios that bolster both economies through increased trade, technology exchange, and joint industrial development. The Algerian government views this strengthened partnership as a crucial component of its broader strategy to diversify its economy and attract foreign investment, particularly in sectors that promote long-term sustainable growth and job creation. This initiative is expected to unlock further opportunities for Russian businesses seeking to expand their presence in the North African market, leveraging Algeria’s strategic location and growing industrial capabilities. Ultimately, the collaboration between Algeria and Russia is poised to create a more resilient and diversified industrial landscape for both nations.
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