2023-06-14 14:18:05
MOSCOW – Russian Economic Development Minister Maxim Reshetnikov said Wednesday in Moscow that Algeria is a key partner for his country in Africa, calling on businessmen from both countries to step up efforts to deepen cooperation bilateral economy.
In a speech delivered during the Russian-Algerian Business Forum, opened by the President of the Republic, Mr. Abdelmadjid Tebboune, Mr. Reshetnikov underlined that “the partnership with Algeria is strategic”, adding that “Algeria remains one of our most important allies in Africa”.
Noting a “convergence of views between the two countries on a number of topical issues in the political and economic fields”, the Russian minister underlined that “negotiations between us are taking place at the highest level to give great impetus to the bilateral action in various fields, including economy and innovation”.
In this context, Mr. Reshetnikov insisted on his country’s attachment to the process of strengthening and diversifying trade with Algeria, stressing that the volume of bilateral trade has increased by nearly 70% in 2022.
“We affirm with satisfaction that trade between our two countries has increased considerably, and we are working to diversify exports of different agricultural and other products,” he said.
Alongside the development of trade relations, “investments are continuously increasing” in several sectors, including energy, the pharmaceutical industry, transport and logistics and infrastructure, according to the same speaker who expressed the will of his country to cooperate in the financial fields, in particular bank payment.
The Minister also underlined the importance of continuing consultations to strengthen economic cooperation through the next economic forums, in particular the Russia-Africa summit scheduled for this summer.
The president of the Russian business association (Delovaya Rossia) Alexis Repik affirmed, for his part, the importance of deepening economic cooperation with Algeria, which is one of the “priority” destinations for businessmen. Russian affairs “particularly in this turbulent international environment”.
In a speech delivered during the work of the Forum, Mr. Repik considered that the history of cooperation between the two countries, which goes back a long time, constitutes a “solid basis for economic partnership in various fields”, recalling the contribution of Russia to the realization of many important projects in Algeria over the past 60 years.
In this regard, he mentioned energy cooperation, in particular through the OPEC+ group within which Algeria occupies an important place and a strategic position. Besides the traditional areas of cooperation between the two countries, Repik expressed the willingness of Russian businessmen to expand the strategic partnership to other areas with great potentials that have not been fully exploited.
In this regard, he considered that the agricultural sector is one of the areas to be developed within the framework of bilateral cooperation, stressing that most Algerian agricultural products are in demand in Russia and can be exported there.
He expressed the interest of Russian companies in cooperation with Algeria in the field of innovation and high technology, as Russian technologies can help improve product quality and develop production in Algeria.
He also underlined the interest of Russian businessmen for investment in the field of aviation, especially freight.
Regarding the business climate in Algeria, the president of “Delovaya Rossiya” said that thanks to the support of the authorities in Algeria, “businessmen feel protected and confident”.
Mr. Repik highlighted the importance of cooperation in the BRICS group, to which Algeria has made its official request for membership, stressing the role of this group, which currently represents 41% of the world’s population, in forming of a multipolar world.
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