Russian Minister of Economic Development: Algeria is a major partner for Russia in Africa

The Russian minister also considered that “the visions are identical between the two countries regarding many of the current events in the fields of politics and economics,” pointing out that “negotiations between us are taking place at the highest levels to give great impetus to bilateral work in various fields, including economy and innovation.” In this context, Reshetnikov highlighted his country’s adherence to the path of enhancing and diversifying trade exchanges with Algeria, noting that the volume of inter-exchange increased by about 70 percent in 2022.

In parallel with the development of trade relations, “the level of investments is in continuous growth and expansion” in several sectors, including energy, the pharmaceutical industry, transport and logistics, and infrastructure, according to the same spokesman, who also pointed to his country’s desire to cooperate in financial fields, especially what Regarding bank payments.

For his part, the head of the Russian Business Association “Dilovaya Russia”, Alexei Rebek, pointed out the importance of deepening economic cooperation with Algeria, which is considered one of the “priority” countries for Russian businessmen, “especially in light of the turmoil the world is currently experiencing.”

In a speech delivered during the forum, Rebic considered that the long history of cooperation between the two countries constitutes a “solid” basis for economic partnership in various fields, recalling Russia’s contribution to the completion of several major projects in Algeria over the past sixty years.

In the same context, he also referred to energy cooperation, especially through the “OPEC +” group, in which Algeria occupies “an important and strategic position.”

In addition to the traditional areas of cooperation between the two countries, Rebic expressed the desire of Russian businessmen to expand the strategic partnership to extend to other areas that have great potentials that have not yet been exploited as required.

In this regard, he considered that the agricultural sector constitutes one of the areas in which bilateral work should be developed, noting that most of the Algerian agricultural products are required in Russia and can be exported to it.

He also expressed the interest of Russian companies in cooperation with Algeria in the field of innovation and high technologies, as Russian technologies can contribute to raising the quality of products and developing manufacturing in Algeria.

Regarding the business climate in Algeria, the head of “Delovaya Russia” stressed that thanks to the support of the authorities in Algeria, “businessmen feel that they are more protected and that they move with more confidence.”

On the other hand, Rebeck highlighted the importance of cooperation within the BRICS bloc, which Algeria officially requested to join, stressing the role of this group, which currently represents 41 percent of the world’s total population, in shaping a multipolar world.