ALGIERS- Algerian President Abdelmadjid Tebboune’s state visit to the Russian Federation, at the invitation of his counterpart Vladimir Putin, marks a significant step in the strengthening of bilateral cooperation between the two countries. This visit, which includes participation in the St. Petersburg International Economic Forum, aims to lay the groundwork for a deep strategic partnership between Algeria and Russia.
The foundation of this partnership was established in 2001 when both nations signed a declaration of strategic partnership. Now, it is time to expand and diversify economic and commercial relations, leveraging the potential of both countries in various industries such as automotive, electronics, pharmaceuticals, aerospace, energy, and agriculture.
One of the key focuses of this visit is investment. Algeria and Russia aim to forge a new partnership, which has been meticulously prepared through reciprocal visits of businessmen and their participation in exhibitions and demonstrations held in both countries. These occasions have facilitated discussions on investment opportunities, particularly in light of Algeria’s promulgation of a new investment code. The 10th session of the Intergovernmental Committee between Algeria and Russia emphasized the need to intensify joint investments, emphasizing technology transfer and the exchange of expertise. Algeria’s new economic recovery program, which prioritizes partnership projects and foreign direct investment, aligns with this objective.
The relationship between Algeria and Russia spans 60 years of continuous cooperation. It dates back to Algeria’s war of independence, during which the former USSR provided crucial material and diplomatic assistance to the revolution. After independence, Russia continued to support Algeria through technical assistance, aiding in the establishment of heavy industries like the El-Hadjar complex and the training of Algerian executives across various sectors, particularly energy.
Over the years, the Algerian-Russian relationship has been characterized by extensive cooperation, robust consultation, and active dialogue on both regional and international issues. Since President Abdelmadjid Tebboune’s election, the leaders of Algeria and Russia have engaged in continuous consultation, exchanging views on international situations, regional matters, and prospects for economic cooperation. These efforts have further strengthened the bond between the two nations.
During Russian Foreign Minister Sergei Lavrov’s visit to Algeria in May 2022, he emphasized the determination of both countries to enhance cooperation through the signing of a new document focusing on bilateral relations. Additionally, officials from Algeria and Russia have engaged in reciprocal visits, further solidifying the partnership. In March, during a visit to Algeria, Valentina Matviyenko, President of the Federal Council of the Federal Assembly of Russia, expressed Russia’s support for Algeria’s aspiration to join the BRICS group. Matviyenko highlighted Algeria’s reliability and its significance as a crucial partner on the African continent.
The Algiers-Moscow partnership has evolved from historical ties to a modern-day strategic alliance. Through sustained dialogue, cooperation, and mutual support, Algeria and Russia are poised to deepen their economic and diplomatic relationship. The ongoing state visit by President Abdelmadjid Tebboune to Russia, along with the participation of a strong Algerian economic delegation in the St. Petersburg International Economic Forum, serves as a catalyst for the realization of a comprehensive and fruitful strategic partnership between the two nations.
Russia and Algeria have developed a strong and balanced relationship in the realm of international politics, with Russia providing significant support to Algeria’s diplomatic efforts in promoting peace and security in various crisis-ridden regions such as Mali and Libya. President Vladimir Putin, in particular, has emphasized Russia’s commitment to Algeria’s balanced approach in both international and regional affairs. This support extends to fostering stability in the Middle East, North Africa, and the Sahara-Sahel region.
One notable instance of Russia’s endorsement of Algeria’s stance was President Putin’s affirmation on February 5, 2020, where he expressed his country’s backing for Algeria’s diplomatic efforts. He underscored the importance of collaborative endeavors between the two nations to promote stability and tackle the complex challenges faced by the Middle East and North Africa.
The burgeoning trade cooperation between Russia and Algeria has also been welcomed by President Putin. Both countries have witnessed notable progress in various areas, including military-technical cooperation and humanitarian endeavors. This growing economic partnership reflects the mutual benefits and shared interests of Russia and Algeria, highlighting the positive trajectory of their relationship.
Furthermore, Russia has consistently shown appreciation for Algeria’s active role in regional and international forums. Moscow welcomed the Algerian declaration resulting from the reunification conference for the achievement of Palestinian national unity, which took place in Algiers on October 14. Russia also commended the outcomes of the 31st summit meeting held in Algeria in early November. The convergence between the summit’s results and Russia’s perspective, particularly concerning the Palestinian cause, demonstrates the alignment of interests and values shared by the two nations.
Most recently, Russia extended its congratulations to Algeria for its election as a non-permanent member of the United Nations Security Council. This achievement signifies Algeria’s growing diplomatic influence and its ability to navigate the evolving dynamics of a rapidly changing multipolar world. Algeria’s increased presence in such a crucial international body presents new opportunities for collaboration between Russia and Algeria to address pressing global issues and promote peace and stability on a broader scale.
The strong and balanced role of Algeria in international politics has garnered significant support from Russia. This partnership, based on shared values and interests, has paved the way for fruitful cooperation in areas of common concern, including conflict resolution, economic development, and regional stability. As Algeria continues to assert itself as a diplomatic force, its relationship with Russia is poised to play a vital role in shaping the global political landscape.
The President of the Republic, Abdelmadjid Tebboune made a significant gesture during his state visit to Moscow, as he inaugurated a square and a commemorative stele dedicated to Emir Abdelkader. The stele, the first of its kind in Russia, serves as a tribute to the historical figure who played a pivotal role not only in Algerian history but also in promoting the values of tolerance, interfaith dialogue, and humanity.
Emir Abdelkader, as inscribed on the stele in both Russian and Arabic, is hailed as a national hero and the founder of the modern Algerian state. In addition, the Russian Tsar [Alexander II] bestowed upon him the White Eagle order as a recognition for his courageous efforts to protect the members of the Russian consulate in Damascus during the tumultuous events of 1860.
Following his resistance against French colonization, Emir Abdelkader sought refuge in Syria, where he once again demonstrated his bravery. In the face of massacres targeting the Maronite Christian community by the Druse Muslims, the emir intervened forcefully to safeguard the lives of Christian families who sought shelter in the Algerian district of Damascus. His actions saved the lives of nearly 15,000 individuals who would have otherwise met a tragic fate.
The noble conduct of Emir Abdelkader during the Damascus massacres earned him recognition and praise, even in France. Napoleon III bestowed upon him the Grand Cordon of the Legion of Honor.
This commemorative gesture serves as a reminder of the shared values that unite nations, transcending borders and cultures. It is a testament to the enduring legacy of Emir Abdelkader and his lasting impact on both Algeria and the world.
President Tebboune’s visit to Russia not only included the symbolic inauguration of the square and stele but also encompassed engagements with the Council of the Duma and the Council of the Russian Federation. Furthermore, the president had the opportunity to meet with representatives of the Algerian community residing in Russia.
In addition to these diplomatic activities, President Tebboune participated in the Saint Petersburg International Economic Forum (SPIEF), underscoring the significance of bilateral economic cooperation between Algeria and Russia.
President Tebboune Awards the “El Achir” Medal to Andreï Pavlenko: A Testament to Heroic Contributions in the War of Liberation
In a momentous ceremony held in Moscow on Wednesday, President Abdelmadjid Tebboune of the Republic of Algeria awarded the prestigious “El Achir” medal of the Order of National Merit to Mr. Andreï Pavlenko. This remarkable recognition was bestowed upon Mr. Pavlenko in honor of his noble contribution on behalf of his State and people during the glorious War of Liberation. His efforts played a crucial role in neutralizing thousands of mines planted by the French occupiers along the borders of Algeria.
The “El Achir” medal holds significant historical and symbolic value within the context of Algerian struggle for independence. It takes its name from the Battle of El Achir, a pivotal engagement fought during the Algerian War (1954-1962). This decoration, the highest civilian honor in Algeria, is reserved for individuals who have displayed exceptional courage, dedication, and service to their nation.
Mr. Andreï Pavlenko’s recognition as a recipient of the “El Achir” medal serves as a testament to the remarkable impact he made during a critical period in Algerian history. His unwavering commitment to dismantling the minefields planted by the French occupiers has not only saved countless lives but has also contributed to the broader struggle for independence.
The War of Liberation was a momentous chapter in Algeria’s quest for self-determination and freedom. It was a period marked by fierce resistance against colonial rule, with Algerians fighting against oppressive forces determined to maintain their grip on the country. The planting of landmines along the borders was a deliberate tactic employed by the French occupiers to impede the progress of the liberation fighters.
Mr. Pavlenko’s bravery and expertise were instrumental in countering this threat. Through his diligent and courageous work, he undertook the dangerous task of locating and defusing the hidden explosives, effectively neutralizing the deadly obstacles that stood in the path of Algerian fighters and innocent civilians alike. His selfless actions helped pave the way for the safe movement of people and supplies, ultimately bolstering the Algerian resistance movement.
The awarding of the “El Achir” medal to Mr. Andreï Pavlenko highlights the enduring gratitude and admiration of the Algerian people towards those who stood in solidarity with their struggle for freedom. It underscores the significance of international collaboration and recognizes the vital role played by individuals from around the world who lent their support to the cause of Algerian independence.
President Tebboune Strengthens Bilateral Relations with Russian Prime Minister in Moscow
In a significant diplomatic move, the President of the Republic of Algeria, Mr. Abdelmadjid Tebboune, held a fruitful meeting with Russian Prime Minister Mr. Mikhail Michoustine at the headquarters of the Russian government in Moscow. The meeting, which took place on Wednesday, marked an important milestone in the efforts to strengthen the bilateral ties between Algeria and Russia.
The meeting was attended by high-level delegations from both countries, reflecting the commitment of Algeria and Russia to enhance cooperation and explore new avenues of collaboration. The discussions focused on a wide range of issues, including economic cooperation, investment opportunities, and partnership possibilities. Both leaders expressed their eagerness to inject strong momentum into the economic relations between the two nations.
President Tebboune Receives a Solemn Welcome from His Russian Counterpart
In a display of diplomatic camaraderie and international cooperation, President Tebboune of Algeria was welcomed with utmost solemnity by his Russian counterpart, President Vladimir Putin. The reception, held at the grandiose Moscow Kremlin, marked a significant milestone in the bilateral relations between Algeria and Russia. The warm greetings and cordial atmosphere at the meeting reaffirmed the commitment of both nations to strengthening their ties and exploring new avenues of collaboration.
The grandeur of the Moscow Kremlin provided an awe-inspiring backdrop for the historic encounter between the two leaders. The meticulously planned ceremony showcased the diplomatic prowess of both nations and their shared dedication to fostering amicable relations. The welcoming ceremony featured a traditional honor guard, marching bands playing national anthems, and a red carpet rolled out in honor of President Tebboune’s visit.
President Putin, known for his diplomatic finesse and his ability to forge strong relationships with world leaders, expressed his gratitude for President Tebboune’s visit and underscored the importance of the Algerian-Russian partnership. He emphasized the need for enhanced cooperation in various fields, including trade, energy, defense, and cultural exchanges. President Putin also commended Algeria’s efforts in promoting stability and security in the region, applauding its role as a key player in the African continent.
President Tebboune reciprocated the warm sentiments expressed by his Russian counterpart, expressing his admiration for Russia’s rich history, cultural heritage, and its significant contributions to global affairs. He emphasized Algeria’s commitment to deepening ties with Russia, highlighting the vast potential for mutually beneficial cooperation. President Tebboune acknowledged Russia’s expertise in sectors such as energy, infrastructure development, and technology, expressing Algeria’s eagerness to tap into these areas of collaboration.
The meeting between President Tebboune and President Putin also provided an opportunity for the leaders to discuss pertinent global issues. They deliberated on regional security concerns, including the situation in North Africa, the Sahel region, and the Middle East. Both leaders expressed their commitment to promoting stability, combating terrorism, and resolving conflicts through peaceful means.
Algeria, Russia Strengthen Strategic Partnership: Signing of Declaration on Enhanced Strategic Cooperation, Package of Documents
Algeria and Russia have solidified their bilateral relations by signing a declaration on enhanced strategic partnership. The historic agreement was inked during a state visit to Moscow by Algerian President Abdelmadjid Tebboune, who was invited by his Russian counterpart, Vladimir Putin. The signing ceremony, held at the Kremlin Palace, was attended by delegations from both countries, marking a significant milestone in their diplomatic ties.
The declaration encompasses various areas of cooperation, underscoring the commitment of both nations to bolstering their partnership. Key elements of the agreement include an extradition pact, a comprehensive collaboration agreement in the field of general communications, and another in the realm of ecology. Moreover, two cultural partnership agreements spanning the years 2023 to 2025 and focusing on water resources were also ratified.
Furthermore, a noteworthy agreement was reached between the Ministries of Justice, affirming their dedication to fostering closer ties. Additionally, a partnership agreement in the space sector was sealed, highlighting the countries’ joint commitment to advancing their capabilities in this domain. The signing of a partnership agreement between representatives of Algerian and Russian business communities further emphasizes the intent to enhance economic cooperation.
During a press statement, Russian President Vladimir Putin expressed his satisfaction with President Tebboune’s visit and the productive outcomes it yielded. President Putin emphasized that Russia is actively seeking to strengthen the partnership across all sectors with Algeria. He specifically highlighted their joint efforts in nuclear medicine, agriculture, and the automotive industry, outlining plans for future collaboration in these fields.
President Putin also disclosed that he and President Tebboune engaged in discussions regarding the situations in Libya, Sudan, Western Sahara, and Palestine. These exchanges underscore the shared interests and concerns of both nations, as they seek to promote stability and address regional challenges collectively.
Lastly, President Putin commended President Tebboune’s commendable efforts to support mediation endeavors between Russia and Ukraine. This gesture not only acknowledges Algeria’s commitment to fostering peace but also highlights the potential for enhanced cooperation between the two countries in resolving global conflicts.
The deep strategic partnership between Algeria and Russia marks a significant step forward in their relationship. The multifaceted agreement demonstrates a mutual desire to strengthen bilateral cooperation across a range of sectors. As both nations continue to deepen their ties, they are poised to unlock new avenues for economic growth, technological advancement, and regional stability. The collaborative spirit exhibited by Algeria and Russia bodes well for the future, signaling a promising era of enhanced partnership and shared accomplishments.
Highlights of Presidents Tebboune and Putin’ Statements
“We are really happy to receive our friend, the President of Algeria, Mr. Tebboune, in the Kremlin,” Putin said after talks.
“Algeria is a key partner for us in the Arab world and in Africa,” he said, adding Russia wanted to ramp up energy and military ties.
“We will be glad to see you in Saint Petersburg,” Putin told Tebboune in televised remarks. “Relations with Algeria are of particular importance for our country.”
Tebboune said that Western pressure on Algeria would not have any impact.
“Foreign countries may put pressure on us today but this will never affect our ties,” he told Putin.
“Our ties never changed,” Tebboune said. “Algeria has always supported Russia,” he said in translated remarks.
“We must maintain our independence,” Tebboune said, adding Russia has been providing his North African country with weapons to help it “maintain our independence in these difficult circumstances.”
Statements of the Presidents at the Narrow-Format Russia-Algeria Talks
President of Russia Vladimir Putin: Mr President, friends,
Welcome to Russia. We are delighted to see you here.
Our country attaches special importance to its relations with Algeria, which can be described as strategic ties. On our way to this room today, Mr President and I recalled that relations between Russia and Algeria started to take shape and develop back in the mid-1950s. We can say without exaggeration that these were strategic relations even back then.
Over these years, the people of Russia and the heroic and, I would say, courageous people of Algeria, considering the fact that they had to fight for independence for many years and won, have developed a very good relationship. Last year, our two countries marked 60 years of diplomatic ties.
As you know, the USSR has offered its Algerian friends meaningful support in its war for independence. During the first years of independence, the USSR supported Algeria as it emerged as an independent, sovereign state, and helped it develop many sectors of its economy.
Russia-Algeria interaction is truly multifaceted and has a tangible potential for further development. Mr President, following our talks we will sign a declaration on deepening strategic partnership between Russia and Algeria, which will launch a new, more advanced stage in our bilateral relations.
Regular political dialogue is playing an important role. You and I are practically always in touch, our colleagues are also working — the Foreign Minister [Sergei Lavrov], the Security Council Secretary [Nikolai Patrushev], and Speaker of the Russian Parliament’s upper chamber Valentina Matviyenko. The Intergovernmental Commission is operating.
Algeria is among Russia’s top three trading partners in Africa. As far as I know, yesterday you must have attended the Russia—Algeria business forum. I hope that there will be increasing interest from both sides in such events. Looking ahead, I would like to say that we will be happy to see you at the second Russia-Africa Summit in St Petersburg in late July.
I would also like to note that Russia-Algeria coordination at multilateral forums and organisations is at a good level as well. Our efforts in OPEC Plus and the Gas Exporting Countries Forum are facilitating stabilisation of the global energy markets.
We continue our constructive cooperation at other venues, in particular, the UN. I hope that with Algeria’s election as a Security Council member for 2024–2025, our interaction will only become stronger.
Our humanitarian ties are making headway. Yesterday’s opening of a square named after Algeria’s national hero Emir Abdelkader in the centre of Moscow was also timed to coincide with your visit. This square will become another good, striking symbol of strong Russia-Algeria friendship.
Welcome, Mr President.
President of the People’s Democratic Republic of Algeria Abdelmadjid Tebboune (retranslated): Let me express my deep satisfaction with this meeting. Thank you very much for your hospitality. This is evidence of the depth of friendship that exists between Algeria and the Russian Federation.Our relations have never changed for the past 60 years, with Algeria always supporting Russia. Today, foreign states may bring pressure to bear on us, but this can never affect our relations.
First, we should preserve our independence, and this is possible thanks to support from the Russian Federation that supplies us with weapons so that we can preserve our independence in this challenging environment.
We should exchange views under all circumstances. We should always be in contact and address all items of interest.
Before we get to a detailed discussion of all these matters, let me congratulate you on your national holiday, Russian Federation Day, June 12.
As for the main items that we must address, Russia, as you know, has always helped Algeria, and now we are a member of the UN Security Council – thanks to the friendly Russian Federation.
We have almost agreed – even before we started the talks – on all items related to the international situation, a very tense situation, as you know. It is necessary to accelerate the process of Algeria joining the BRICS group so that we no longer accept dollars and euros. This will be to Algeria’s benefit. God grant!
As for the geopolitical situation and relations, we must touch on the Libya issue. Libya is a friend to Russia and Algeria, and therefore we are always eager for stability in that country.
Where the Sahel region is concerned, we support relations between Mali and the Russian Federation. Mali neighbours our country. We should negotiate and discuss all issues under any circumstances. We have an instrument known as the Algiers Agreement.
President Tebboune Pushes for Accelerated Accession of Algeria to BRICS
In a bold move aimed at boosting Algeria’s economy and alleviating external pressures, President Abdelmadjid Tebboune has expressed his desire to fast-track Algeria’s accession to the BRICS. Speaking at the International Economic Forum in Saint Petersburg, President Tebboune emphasized the need for Algeria to join the prestigious group as soon as possible.
“We want to join the BRICS as soon as possible to free our economy from certain pressures,” President Tebboune announced confidently. His statement highlights the Algerian government’s commitment to seeking alternative economic partnerships and diversifying its global alliances.
The BRICS, consisting of Brazil, Russia, India, China, and South Africa, represents a powerful bloc of emerging economies that have established themselves as significant players in the global market. Accession to the BRICS would not only elevate Algeria’s international standing but also provide a platform for enhanced trade and economic cooperation with member countries.
President Tebboune further expressed his vision for the creation of a unified Arab currency in the future. Such an initiative could potentially strengthen economic integration and facilitate trade among Arab nations, creating new avenues for growth and development in the region.
With regards to Algeria’s economy, President Tebboune highlighted the country’s potential as a promising investment destination. He encouraged both public and private companies from Russia and around the world to explore the favorable business environment in Algeria and take advantage of the incentives offered by the Algerian government.
The President’s presence at the World Economic Forum in Saint Petersburg as a guest of honor underscores the significance of the event and showcases Algeria’s commitment to engaging with the global business community. President Tebboune expressed his gratitude to Russian President Vladimir Putin for extending the invitation, recognizing the forum as a distinguished platform for economic dialogue and cooperation.
Algeria’s pursuit of accelerated accession to the BRICS demonstrates the government’s determination to diversify its economic partnerships and reduce reliance on traditional trading alliances. By engaging with emerging economies and forging stronger ties with BRICS member countries, Algeria aims to unlock new opportunities for trade, investment, and technological collaboration.
Russian-Ukrainian Conflict: President Putin Accepts President Tebboune’s Mediation
In a significant development, Russian President Vladimir Putin has accepted Algerian President Abdelmadjid Tebboune’s proposal for mediation in the conflict between Russia and Ukraine. This announcement came during a joint statement by the two leaders on Thursday, June 15, 2023, in Moscow. President Tebboune expressed his gratitude to President Putin for accepting Algeria’s mediation and assured that Algeria would live up to the trust placed in it. The Algerian president also thanked his Russian counterpart for the warm welcome extended to him during his visit. President Putin, in turn, appreciated the efforts made by President Tebboune and Algeria in facilitating the mediation between Russia and Ukraine.
He acknowledged Algeria’s role as a member of the Arab League’s contact group on Ukraine and commended the country’s commitment to resolving the conflict. President Putin further stated that he had shared with President Tebboune the Russian perspective on the conflict, including its origins and surrounding circumstances.
Looking ahead, President Putin revealed his plans to meet with African delegations on Friday to discuss the initiative proposed by Algeria for the settlement of the Russian-Ukrainian conflict. This upcoming gathering demonstrates the growing importance of Algeria’s role in international diplomacy and highlights its ability to address complex and sensitive global issues.
The acceptance of Algeria’s mediation proposal by President Putin signifies a level of trust and confidence in the country’s capabilities. It also highlights Algeria’s commitment to fulfilling its international responsibilities and further solidifies its standing on the global stage.President Tebboune’ success in undertaking delicate and challenging international missions underscores Algeria’s unwavering dedication to promoting peace and stability. The country has consistently demonstrated its willingness to engage in diplomatic efforts, showcasing its capacity to navigate intricate political landscapes. With its involvement in resolving the Russian-Ukrainian conflict, Algeria has the opportunity to contribute to finding solutions that safeguard the interests of all parties involved.
Tebboune’ Saint Petersburg Address: Algerians Embrace Freedom, Forging a Lasting Legacy
In a powerful statement delivered at the Russian International Economic Forum in Saint Petersburg, President Tebboune reaffirmed the inherent freedom of the Algerian people. He declared that Algerians were born free and would continue to be free in their decisions and actions, asserting their independence and autonomy on the world stage.
President Tebboune’ statement was prompted by a question regarding external pressure on Algeria, aimed at dissuading the country from procuring weapons from Russia. With his response, Tebboune not only defended Algeria’s right to make sovereign decisions but also underscored the unwavering spirit of the Algerian people.
The president’s declaration resonated strongly with the audience, leading to thunderous applause filling the vast hall where the Forum’s opening ceremony took place. The enthusiastic reception highlighted the pride and support Algerians feel for their nation’s unwavering commitment to freedom and self-determination.
Algeria, a country with a rich history of struggle and liberation, has fought for its independence against colonial powers in the past. Today, Algerians cherish their freedom as a fundamental right and fiercely guard their autonomy in all aspects of their lives. President Tebboune’s words captured this sentiment, serving as a reminder that the Algerian people will not be swayed by external pressures when it comes to decisions that shape their nation’s future.
The Russian International Economic Forum provided a fitting platform for President Tebboune to convey this powerful message. As a guest of honor at the event, he had the opportunity to address an esteemed international audience, including influential political and business leaders from around the world. By speaking directly to this diverse gathering, Tebboune reiterated Algeria’s firm commitment to independence and its determination to make decisions that align with the nation’s best interests.
Algeria, known for its strategic positioning in North Africa and its rich reserves of natural resources, has always pursued a foreign policy rooted in non-alignment and sovereignty. The country maintains strong diplomatic ties with various nations, fostering partnerships based on mutual respect and cooperation. President Tebboune’s presence at the Russian forum and his resolute stance on Algeria’s freedom showcased the nation’s dedication to maintaining its own path, free from external interference.
The resounding applause following Tebboune’s statement serves as a testament to the Algerian people’s unwavering commitment to their values and principles. It reinforces the notion that the nation’s collective spirit is deeply rooted in the struggle for self-determination and the preservation of freedom.
Tebboune at SPIEF: Algeria Has Become a Promising Investment Destination
During his speech at the Saint Petersburg International Economic Forum (SPIEF) on Friday, President Abdelmadjid Tebboune affirmed that Algeria is currently experiencing significant development and has become a promising investment destination thanks to the incentives implemented by the government.
“We will work towards increasing investments in green energy, and the field is open to operators who are awaiting support from the Algerian government,” he stated. Tebboune also emphasized that “our country has no debt, so I invite investors to explore the new business environment and economic incentives.”
President Tebboune further asserted that Algeria’s growth rate is 4.3% and is projected to exceed that in 2023.
“All implementing regulations of the investment law have been published in the Official Gazette, and its incentives are highly conducive to wealth creation,” he added.
Algeria’s emergence as a promising investment destination is a testament to the government’s commitment to fostering economic growth and attracting foreign investment. The country’s focus on green energy aligns with the global trend towards sustainability and renewable resources, presenting ample opportunities for investors interested in the clean energy sector.
With its favorable investment climate, Algeria provides a stable and secure environment for businesses to thrive. The government’s efforts in promoting economic incentives and removing barriers to investment have bolstered confidence among domestic and international investors. By enacting policies that support wealth creation, Algeria aims to stimulate job creation, enhance living standards, and drive sustainable development.
The publication of implementing regulations for the investment law in the Official Gazette demonstrates the government’s commitment to transparency and accountability. This move provides clarity and reassurance to investors, enabling them to navigate the investment landscape with confidence and make informed decisions.
Algeria’s positive economic trajectory and President Tebboune’s pro-business stance at the SPIEF present a compelling case for investors seeking new opportunities. The country’s strategic location, abundant natural resources, and growing domestic market contribute to its appeal as an investment destination.
As Algeria continues to prioritize economic diversification and implement structural reforms, sectors such as agriculture, manufacturing, tourism, and infrastructure development offer untapped potential for investors. The government’s commitment to creating a business-friendly environment, coupled with its ambitious growth targets, creates a favorable climate for investment and collaboration.
In conclusion, President Tebboune’s remarks at the SPIEF highlight Algeria’s transformation into a promising investment destination. The government’s dedication to promoting economic growth, particularly in the green energy sector, and its implementation of investor-friendly policies demonstrate a clear commitment to attracting domestic and international investment. As Algeria continues to evolve, investors are presented with numerous opportunities to contribute to the country’s development while reaping the benefits of its promising business environment.
National and Foreign Private Individuals Called Upon to Open Banks in Algeria
Algeria is currently experiencing a period of economic recovery, and the President of the Republic has called for greater involvement of the private sector in this process. During his official visit to Moscow, the President emphasized the need to separate the role of national private capital from the allocation of public financial resources to prevent any potential issues.
The new economic strategy implemented by the Algerian government aims to reduce the country’s dependence on hydrocarbons and diversify its economy. The President highlighted the efforts made in recent years to facilitate and promote investment in Algeria. However, one inconsistency that needs to be addressed is the fact that 85% of the national capital is held by the private sector, while 90 to 92% of financial resources come from the state.
The President stated that this confusion between the private economy and public money can lead to excesses and the use of control mechanisms and legal procedures. To address this issue, he called upon national, foreign, and particularly Russian private capital to open private banks. The President believes that when transactions occur between private individuals, there is greater accountability and acceptance.
In addition to encouraging the establishment of private banks, the Algerian government is preparing a major investment plan for the coming years. This plan focuses on various sectors, including energy, infrastructure, the pharmaceutical industry, agriculture, and the agri-food and processing industries. The President highlighted the significant investment opportunities and potential economic complementarities that exist in Algeria, both with friendly countries and within the African continent and the Mediterranean basin.
Algeria is currently undergoing a new dynamic aimed at catching up on missed investment opportunities and exchanges. There are currently 1,450 industrial projects underway in the country, with the goal of reducing reliance on hydrocarbons. The President emphasized that while hydrocarbons will remain an important source of income, the country aims to permanently free itself from this dependence and develop a more diverse and sustainable economy. Algeria’s non-hydrocarbon exports have already reached $7 billion, a significant achievement that demonstrates the progress made.
The President also stressed the potential for strengthening economic cooperation between Algeria and Russia, particularly in terms of technology transfers and complementarities in sectors such as science, agriculture, and tourism. He highlighted the Algerian government’s commitment to improving the business climate by revising investment regulations and simplifying administrative procedures for small and medium-sized enterprises (SMEs) and emerging companies. Furthermore, the government aims to promote digitization and the knowledge economy as part of its economic recovery plan.
Mediation in Ukraine, Peace Advocacy, SPIEF… President Putin Warmly Thanks President Tebboune
Russian President Vladimir Putin, speaking at the St. Petersburg International Economic Forum, expressed his warm gratitude to the President of the Republic of Algeria, Abdelmadjid Tebboune, on Friday.
“I would like to thank the Algerian President for making himself available to come to our country and participate in this forum, and each of you knows the effort it takes to join us here,” stated the Russian President, while acknowledging the role played by the Algerian President at various levels.
“The Algerian President is a leader who respects his national interests and our interests as well,” added Putin, emphasizing the historical depth of the relationship between his country and Algeria, as well as the respect he holds for Algeria.
“We have longstanding friendly relations with Algeria, and we love the Algerian people. From 1954 to 1962, you lost one and a half million of your people, and even after ’62, the French army continued to carry out nuclear tests in your Sahara, with heavy consequences,” recalled Putin, highlighting the friendship he maintains with Africa and the Arab world.
According to the Russian President, the leaders of these countries prioritize their own national interests above all other considerations. Their shared history has made them attentive and sensitive to what is happening elsewhere, as is the case with the Algerian President, who aspires to peace everywhere, including in Ukraine, where he has been involved in mediation efforts.
“We sincerely thank you for your efforts in this field and for supporting Russia’s efforts to resolve the crisis in Ukraine,” declared Vladimir Putin.
Following the Russian President’s statement, President Tebboune also expressed his gratitude to Putin for accepting Algerian mediation.
“I take this opportunity, once again, to thank him for his substantial interventions and for allowing my country to resolve the conflict with Ukraine if possible,” stated Tebboune, adding that “Putin is a friend of the whole world,” just like Algeria, which “loves the whole world except those who are hostile to it.”
The warm exchange between the Russian and Algerian presidents at the SPIEF underscores the close relationship between their countries and their shared commitment to peace and stability. Both leaders acknowledged the historical ties between Russia and Algeria and expressed mutual respect and appreciation. The recognition of President Tebboune’s mediation efforts in Ukraine further highlights the Algerian government’s active role in promoting peace and resolving international conflicts.
As the world continues to face various challenges, including conflicts and geopolitical tensions, the collaboration between Russia and Algeria exemplifies the importance of diplomacy and dialogue in seeking peaceful resolutions. The warm appreciation expressed by President Putin towards President Tebboune is a testament to the value placed on constructive partnerships and the pursuit of global peace.
President Tebboune’s Visit to Moscow Hailed as a Resounding Success on all Fronts
President Abdelmadjid Tebboune’s visit to Moscow has been hailed as a resounding success on all fronts. The Algerian leader’s trip to the Russian capital not only strengthened bilateral ties between the two countries but also showcased Algeria’s growing influence on the global stage. With key agreements signed and fruitful discussions held, the visit marked a turning point in the relations between Algeria and Russia.
The signing of important agreements, the expansion of defense cooperation, the promotion of economic ties, and the consolidation of Algeria’s international standing have all contributed to the positive outcomes of this visit. President Tebboune’s diplomatic achievements highlight Algeria’s growing influence on the global stage and its commitment to forging strategic partnerships. As Algeria continues to navigate its path towards progress and development, this visit serves as a testament to its proactive and pragmatic approach to international relations.
This is particularly vital to understand since Kiev recently chose to escalate the conflict once more by using Storm Shadow missiles provided by the UK to attack the Russian Fleet at Sevastopol of Crimea