The Algerian Agency for the Promotion of Investment (AAPPI) and the Russian-Algerian Business Council have met to explore opportunities for enhancing economic and investment partnerships between Algeria and Russia. The meeting, held via video conference, was attended by AAPPI's General Manager, Omar Rekache, and the Russian-Algerian Business Council's Chairman, Ahmed Azimov. The discussions aimed to strengthen economic ties and implement the outcomes of the 13th Algerian-Russian Joint Committee, held in Moscow from June 24 to 26.
The meeting focused on developing a joint action plan to promote investment opportunities in Algeria and improve communication between the AAPPI and the business sector. This aims to attract investments and implement high-value-added projects. The two parties also discussed preparations for organizing an Algeria Day on the sidelines of the Africa-Russia Summit and its accompanying economic forum, scheduled for October in Moscow. This event will showcase Algeria's investment opportunities.
During the meeting, Rekache highlighted Algeria's promising sectors, including agriculture, energy, renewable energies, industry, manufacturing, pharmaceuticals, and medical devices. He emphasized the AAPPI's readiness to support investors and facilitate project implementation. Azimov, on the other hand, expressed Russian companies' interest in investing in Algeria, stressing the importance of technology transfer and expertise exchange.
The Russian-Algerian Business Council is willing to contribute to promoting Algeria's investment opportunities and encouraging partnerships between institutions. Azimov noted that the council will play a key role in enhancing economic cooperation between the two countries. The meeting was also attended by Algeria's Ambassador to Russia, Toufik Djamaam.
The Algerian-Russian partnership has been gaining momentum in recent years, with both countries seeking to diversify their economies and strengthen bilateral ties. Algeria is Russia's largest trading partner in Africa, and Russia is one of Algeria's main economic partners. The two countries have been cooperating in various fields, including energy, industry, and agriculture.
The AAPPI has been working to promote Algeria's investment opportunities and improve the business environment. The agency provides support to investors and facilitates project implementation. Algeria has been implementing various reforms to improve its business climate and attract foreign investment.
The upcoming Africa-Russia Summit and economic forum will provide a platform for Algeria to showcase its investment opportunities and strengthen economic ties with Russia and other African countries. The summit will discuss ways to enhance economic cooperation between Africa and Russia.
Key points
- Algeria and Russia discuss ways to boost economic partnership and investment opportunities.
