Algeria and Russia are set to enhance their economic ties through a joint program aimed at promoting investments. The program was discussed during a virtual meeting between Omar Rekkache, Director-General of the Algerian Agency for the Promotion of Investment (AAPI), and Ahmed Azimov, President of the Algerian-Russian Business Council. The meeting was also attended by Toufik Djouamaa, Algerian Ambassador to Russia. The program aims to better showcase Algeria's investment opportunities and strengths.
The joint program is part of the follow-up to the recommendations of the 13th session of the Algerian-Russian Mixed Commission, held in Moscow from June 24 to 26, 2026. The commission's goal is to strengthen economic cooperation and stimulate investments between the two countries. During the meeting, Rekkache and Azimov discussed ways to improve coordination between AAPI and the Russian business sector to attract new investments and implement value-added projects.
The Algerian-Russian Business Council and AAPI plan to organize an "Algeria Day" event on the sidelines of the Russia-Africa Summit and the associated economic forum, scheduled for late October in Moscow. This event will provide an opportunity for Russian operators to learn about investment opportunities in the Algerian market. Rekkache presented the main sectors offering investment opportunities, including agriculture, energy, renewable energies, industry, and pharmaceuticals.
Azimov expressed the interest of Russian companies in Algeria's investment opportunities, highlighting the importance of technology transfer and expertise exchange. He assured that the Algerian-Russian Business Council is committed to promoting investment opportunities in Algeria and encouraging partnerships between companies from both countries. The council will play a key role in facilitating cooperation between Algerian and Russian businesses.
The Algerian-Russian Mixed Commission's meeting in June resulted in the signing of several agreements and memoranda of understanding to expand bilateral cooperation in various sectors. These included an agreement on customs cooperation and assistance, as well as memoranda on tourism, labor inspection, and employment promotion. The cooperation was also strengthened in the pharmaceutical sector through a memorandum between the Algerian and Russian national pharmaceutical product agencies.
Additional agreements were signed on the conservation and restoration of cultural heritage, as well as the development of scientific exchanges between the Algerian Academy of Sciences and Technologies and the Russian Academy of Sciences. These agreements demonstrate the commitment of both countries to strengthening their cooperation in various fields. The joint program is expected to boost investments and economic partnerships between Algeria and Russia.
The implementation of the joint program is expected to have a positive impact on Algeria's economy, attracting new investments and creating jobs. The program will also provide opportunities for Algerian and Russian businesses to collaborate and exchange expertise. The Algeria-Russia economic partnership is set to play a significant role in promoting economic growth and development in both countries.
Key points
- Algeria and Russia have agreed to implement a joint program to stimulate investments and strengthen economic partnerships between the two countries.
