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

Russian Minister of Economic Development Maxim Reshetnikov said today, Wednesday in Moscow, that Algeria represents a major partner for his country on the African continent, calling on businessmen in the two countries to intensify their efforts to deepen bilateral economic cooperation.
In a speech he delivered during the Russian-Algerian Business Forum, which was inaugurated by the President of the Republic, Abdelmadjid Tebboune, Reshetnikov stressed that “the partnership with Algeria is strategic,” adding that “Algeria remains one of our most important allies on the African continent.”
And the Russian minister considered that “the visions are identical between the two countries regarding many of the current events in the fields of politics and the economy,” 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 strengthening and diversifying trade exchanges with Algeria, noting that the volume of inter-exchange increased by about 70 percent in 2022.
In this context, he stated, “We affirm with satisfaction that the field of trade between our two countries has increased significantly, and work is being done to diversify exports of various agricultural products and others.”
In parallel with the development of trade relations, “the level of investments is constantly growing and expanding,” in several sectors, including energy, the pharmaceutical industry, transport and logistics, and infrastructure, according to the same speaker, who also pointed to his country’s desire to cooperate in financial fields, especially what Regarding bank payments.
The minister also stressed the importance of continuing consultations to enhance economic cooperation through various upcoming economic forums, especially the Russian-African summit to be organized next summer.
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, Mr. Rebek 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, pointing out 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 industrialization in Algeria.
He also pointed to the interest of Russian businessmen to invest in aviation, especially in the field of freight.
On the business climate in Algeria, the head of “Delovaya Russia” stressed that thanks to the support of the authorities in Algeria, “businessmen feel more protected and 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.