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October 29, 2024 | 2 months ago

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Russian businessmen in Algiers: strategic partnerships in sight

The Russian Economic Mission in Algeria, in partnership with the Algerian Chamber of Commerce and Industry (CACI), organized a business meeting in Algiers yesterday, attended by Algerian and Russian businessmen operating in the building materials and information and communication technologies sectors.

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During the two-day meeting, 14 Russian companies and more than 100 Algerian companies engaged in B2B exchanges to explore strategic partnerships, particularly in digital technologies and construction materials. Ivan Nalitch, Head of the Economic Mission of the Russian Embassy in Algeria, highlighted Algeria's new investment code as an encouraging factor for Russian investors and praised the quality of Algerian products.

Lakhdar Madjene, vice president of the Algerian Chamber of Commerce and Industry (CACI), expressed optimism for stronger bilateral economic ties, noting that trade between the two countries is expected to increase from $1.05 billion in 2022 to $1.48 billion in 2023. This forum provides a concrete opportunity to deepen economic relations, supported by Algeria's new law encouraging investment in high-value-added sectors.

Abdelwahab Gaoua, President of the Algerian Association of Digital Actors (GAAN), highlighted Algeria's key role in ICT in Africa, with a strong drive for economic digitalisation. This meeting offers Russian companies an opportunity to discover Algeria's potential in the digital sector.

October 29, 2024 | algeria-logo

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