Economic Cooperation Enhanced by Algerian-Russian Business Talks

The Algerian Investment Promotion Agency (AAPI) and the Algerian-Russian Business Council recently held a teleconference meeting to advance economic and investment cooperation. The discussions involved Mr. Omar Rekkache, Director General of AAPI, and Mr. Ahmed Azimov, Head of the Algerian-Russian Business Council, with Algeria's Ambassador to Russia, Mr. Toufik Djouamaa, also in attendance. This gathering specifically aimed to implement the outcomes of the 13th Algerian-Russian Joint Commission.

A core objective of the meeting was to establish a joint work program designed to promote Algeria's diverse investment opportunities. This program seeks to strengthen communication between AAPI and the business community, with the strategic goal of attracting new investments and facilitating the realization of projects that generate significant added value. Preparations also commenced for an "Algeria Day," scheduled to take place during the Africa-Russia Summit and its associated Economic Forum in Moscow later this October, serving as a dedicated platform to showcase investment prospects in Algeria.

Mr. Rekkache highlighted several key sectors offering promising investment avenues, including agriculture, energy and renewable energy, industry and manufacturing, and the pharmaceutical industry along with medical devices. He reaffirmed AAPI's commitment to supporting investors and streamlining the project implementation process. In turn, Mr. Azimov confirmed the strong interest among Russian companies in investing in Algeria and underscored the importance of technology transfer and the exchange of expertise. He also expressed the Algerian-Russian Business Council's readiness to actively promote investment opportunities in Algeria and foster robust partnerships between enterprises.