June 9, 2024 | 4 days ago

Pharmaceutical and steel industries: Broad prospects for cooperation between Algiers and Moscow

The prospects for strengthening industrial cooperation between Algeria and Russia are "broad and diversified," especially in the pharmaceutical and steel industries, stated the Minister of Industry and Pharmaceutical Production, Ali Aoun.

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In a statement to the Russian channel RT, on the sidelines of his participation in the Saint Petersburg International Economic Forum (June 5-8), Mr. Aoun indicated that this economic event was an opportunity for the Algerian delegation to "closely observe the developments in the industry in Russia, especially in heavy industries, pharmaceuticals, and renewable energies."


Mr. Aoun specified that his meetings with Russian officials and business leaders had enabled discussions on ways to intensify partnership, particularly in steelmaking and pharmaceuticals, as well as in manufacturing and processing industries.


Acknowledging Russia's significant progress in the pharmaceutical industry, particularly in the production of anticancer drugs, the minister stated that an Algerian-Russian partnership would be established for manufacturing the raw materials for these medications.


He also highlighted Algeria's considerable progress in insulin crystal manufacturing, within a partnership realized between the Saidal Group and a Russian partner. He noted that this project, whose foundation stone was recently laid, would commence production by the end of 2025.


Additionally, Mr. Aoun affirmed that the tourism sector presented significant prospects for cooperation and partnership between the two countries, given Algeria's enormous potential in this field. He mentioned the recent visit of an Algerian delegation of operators to Russia to promote bilateral partnership and tourism exchanges.


On the sidelines of the Saint Petersburg International Economic Forum, the Minister of Industry and Pharmaceutical Production participated in an Algerian-Russian working session, during which he reviewed the various incentives offered by Algeria to national and foreign investors for the realization of their projects in all industrial sectors. He emphasized the importance of the industrial sector in the national economy's structure on that occasion.

June 11, 2024 | algeria-logo